Vestmark Advisory Solutions Inc. Lowers Holdings in Phillips 66 (NYSE:PSX)

Vestmark Advisory Solutions Inc. reduced its position in Phillips 66 (NYSE:PSX) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,403 shares of the oil and gas company’s stock after selling 555 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Phillips 66 were worth $1,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its holdings in Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $10,402,000. Choate Investment Advisors purchased a new stake in shares of Phillips 66 during the third quarter worth about $247,000. First Dallas Securities Inc. purchased a new position in shares of Phillips 66 in the third quarter valued at approximately $753,000. Finally, TIAA Trust National Association increased its holdings in shares of Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after purchasing an additional 3,670 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PSX. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Barclays dropped their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. Mizuho reduced their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Citigroup initiated coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Stock Performance

PSX traded up $1.12 on Monday, hitting $144.73. 97,577 shares of the company’s stock were exchanged, compared to its average volume of 2,923,982. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average of $155.55 and a two-hundred day moving average of $138.35. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The firm has a market cap of $61.36 billion, a PE ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the company earned $4.21 earnings per share. On average, research analysts anticipate that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Insiders Place Their Bets

In related news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by company insiders.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.