Van ECK Associates Corp Sells 17,893 Shares of Phillips 66 $PSX

Van ECK Associates Corp decreased its stake in shares of Phillips 66 (NYSE:PSX) by 6.0% in the third quarter, Holdings Channel reports. The institutional investor owned 278,278 shares of the oil and gas company’s stock after selling 17,893 shares during the quarter. Van ECK Associates Corp’s holdings in Phillips 66 were worth $37,851,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PSX. Mesirow Financial Investment Management Inc. boosted its stake in Phillips 66 by 0.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after purchasing an additional 73 shares in the last quarter. KCM Investment Advisors LLC lifted its stake in shares of Phillips 66 by 1.6% in the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock worth $631,000 after buying an additional 74 shares in the last quarter. Heck Capital Advisors LLC grew its holdings in shares of Phillips 66 by 1.2% during the third quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after buying an additional 75 shares during the last quarter. Portside Wealth Group LLC grew its holdings in shares of Phillips 66 by 3.8% during the third quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock valued at $277,000 after buying an additional 75 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY increased its position in shares of Phillips 66 by 0.4% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 16,926 shares of the oil and gas company’s stock valued at $2,302,000 after acquiring an additional 75 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. This trade represents a 14.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 38,088 shares of company stock valued at $6,147,655. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

Shares of PSX opened at $169.41 on Thursday. The firm has a market capitalization of $67.89 billion, a P/E ratio of 15.66, a PEG ratio of 0.56 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. Phillips 66 has a one year low of $91.01 and a one year high of $169.62. The business has a fifty day moving average of $149.69 and a 200 day moving average of $139.51.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter in the prior year, the company earned ($0.15) earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were paid a $1.27 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date was Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 3.0%. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Analysts Set New Price Targets

Several research firms recently issued reports on PSX. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Citigroup boosted their price target on Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Raymond James Financial upped their price target on Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Mizuho increased their price objective on Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Finally, Barclays set a $158.00 target price on Phillips 66 in a research report on Friday, February 20th. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Hold” and a consensus target price of $160.11.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.