Donaldson Capital Management LLC Cuts Stock Position in Phillips 66 (NYSE:PSX)

Donaldson Capital Management LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,807 shares of the oil and gas company’s stock after selling 447 shares during the period. Donaldson Capital Management LLC’s holdings in Phillips 66 were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Sippican Capital Advisors purchased a new stake in Phillips 66 during the 4th quarter worth $211,000. Investors Research Corp increased its stake in Phillips 66 by 2.4% during the 4th quarter. Investors Research Corp now owns 8,434 shares of the oil and gas company’s stock worth $1,123,000 after buying an additional 194 shares during the period. Bison Wealth LLC increased its stake in Phillips 66 by 33.4% during the 4th quarter. Bison Wealth LLC now owns 8,192 shares of the oil and gas company’s stock worth $1,091,000 after buying an additional 2,050 shares during the period. Dakota Wealth Management grew its holdings in Phillips 66 by 112.8% during the 4th quarter. Dakota Wealth Management now owns 118,626 shares of the oil and gas company’s stock worth $15,794,000 after acquiring an additional 62,891 shares in the last quarter. Finally, Cullen Investment Group LTD. acquired a new position in Phillips 66 during the 4th quarter worth $230,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.9 %

NYSE PSX opened at $157.80 on Wednesday. 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 company’s 50 day simple moving average is $153.87 and its 200 day simple moving average is $134.78. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a market capitalization of $67.51 billion, a P/E ratio of 10.20, a PEG ratio of 2.03 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The business had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Equities research analysts expect that Phillips 66 will post 13.2 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced 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 is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is 27.15%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Mizuho decreased their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. 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. Scotiabank lifted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, Raymond James lifted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.86.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pease acquired 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were 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 approximately $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 ninety days. Corporate insiders own 0.22% of the company’s stock.

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.