Natixis Advisors L.P. Sells 6,577 Shares of Phillips 66 (NYSE:PSX)

Natixis Advisors L.P. lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 294,740 shares of the oil and gas company’s stock after selling 6,577 shares during the quarter. Natixis Advisors L.P.’s holdings in Phillips 66 were worth $39,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cornerstone Planning Group LLC raised its holdings in Phillips 66 by 134.8% in the 3rd 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 in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth approximately $36,000. West Branch Capital LLC raised its holdings in shares of Phillips 66 by 49.5% during the 4th 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 in the last quarter. Bell Investment Advisors Inc lifted its position in shares of Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares during the last quarter. Finally, Headinvest LLC acquired a new stake in Phillips 66 in the third quarter valued at about $51,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on PSX. JPMorgan Chase & Co. boosted their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Mizuho dropped their price objective 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. Barclays decreased their target price on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday. The Goldman Sachs Group increased their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Citigroup assumed coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.43.

Insider Buying and Selling at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s 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 transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated 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 completion of the sale, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction that occurred on 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 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. In the last quarter, insiders sold 35,056 shares of company stock worth $5,272,681. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 0.2 %

Shares of PSX traded down $0.26 during trading hours on Friday, hitting $143.61. The stock had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. The firm has a 50 day simple moving average of $155.62 and a 200-day simple moving average of $137.81. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.02. The firm has a market capitalization of $60.88 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the prior year, the firm earned $4.21 EPS. Sell-side analysts predict that Phillips 66 will post 13.17 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. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.20%. 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 dividend payout ratio is currently 32.31%.

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.