Carret Asset Management LLC Has $2.32 Million Holdings in Phillips 66 (NYSE:PSX)

Carret Asset Management LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,448 shares of the oil and gas company’s stock after selling 240 shares during the period. Carret Asset Management LLC’s holdings in Phillips 66 were worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of PSX. International Assets Investment Management LLC acquired a new stake in shares of Phillips 66 during the 4th quarter valued at about $254,336,000. Bank of New York Mellon Corp lifted its holdings in Phillips 66 by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after purchasing an additional 502,785 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in Phillips 66 by 41.2% during the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock valued at $181,049,000 after purchasing an additional 439,360 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Phillips 66 by 1,038.3% during the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after purchasing an additional 430,723 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Phillips 66 by 53.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after purchasing an additional 421,714 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PSX shares. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Mizuho dropped their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Citigroup began coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Barclays lifted their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The purchase 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 5,922 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Down 0.6 %

Shares of Phillips 66 stock traded down $1.02 on Wednesday, hitting $157.82. The company had a trading volume of 1,944,590 shares, compared to its average volume of 2,965,071. The firm has a market capitalization of $67.52 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.95 and a beta of 1.37. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The stock has a 50-day moving average of $154.93 and a 200-day moving average of $136.31.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Research analysts predict that Phillips 66 will post 13.45 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 27.15%.

Phillips 66 Company Profile

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.