Roman Butler Fullerton & Co. Decreases Stake in Phillips 66 (NYSE:PSX)

Roman Butler Fullerton & Co. reduced its stake in Phillips 66 (NYSE:PSX) by 16.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,867 shares of the oil and gas company’s stock after selling 585 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Phillips 66 were worth $402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its holdings in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after buying an additional 22,278 shares during the period. Eldred Rock Partners LLC acquired a new position in Phillips 66 in the 4th quarter worth approximately $10,402,000. Choate Investment Advisors acquired a new position in Phillips 66 in the 3rd quarter worth approximately $247,000. First Dallas Securities Inc. acquired a new position in Phillips 66 in the 3rd quarter worth approximately $753,000. Finally, TIAA Trust National Association increased its holdings in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $153.31 on Friday. The firm has a market cap of $65.59 billion, a PE ratio of 9.91, a PEG ratio of 1.98 and a beta of 1.37. The firm has a fifty day moving average of $154.22 and a 200 day moving average of $135.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a one year low of $89.74 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. As a group, research analysts predict that Phillips 66 will post 13.25 EPS 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. Shareholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 27.15%.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Mizuho cut their target price 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. Scotiabank lifted their target price 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. Bank of America lifted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Piper Sandler lifted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction 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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction 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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert W. Pease purchased 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now owns 1,900 shares in the company, 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 in the last 90 days. 0.22% of the stock is owned by insiders.

Phillips 66 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.