Demars Financial Group LLC Reduces Position in Phillips 66 (NYSE:PSX)

Demars Financial Group LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 60.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,810 shares of the oil and gas company’s stock after selling 13,249 shares during the quarter. Phillips 66 comprises approximately 0.6% of Demars Financial Group LLC’s portfolio, making the stock its 17th largest holding. Demars Financial Group LLC’s holdings in Phillips 66 were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PSX. Cornerstone Planning Group LLC lifted its holdings in Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 151 shares during the period. Bruce G. Allen Investments LLC bought a new position in Phillips 66 in the fourth quarter valued at about $36,000. Bell Investment Advisors Inc lifted its holdings in Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the period. West Branch Capital LLC raised its stake in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the period. Finally, Headinvest LLC bought a new position in shares of Phillips 66 in the third quarter worth about $51,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

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 stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 in the last quarter. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

NYSE PSX opened at $156.00 on Wednesday. The stock has a market capitalization of $66.74 billion, a PE ratio of 10.27, a P/E/G ratio of 1.95 and a beta of 1.37. The business has a 50 day simple moving average of $154.93 and a two-hundred day simple moving average of $136.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08.

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 business had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, research analysts predict that Phillips 66 will post 13.45 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.95%. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 27.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group raised their price objective on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays raised their price objective on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Citigroup assumed coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Raymond James raised their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Bank of America raised their price objective on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $158.00.

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.