Phillips 66 (NYSE:PSX) Shares Sold by Hi Line Capital Management LLC

Hi Line Capital Management LLC lowered its position in Phillips 66 (NYSE:PSX) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,945 shares of the oil and gas company’s stock after selling 1,395 shares during the quarter. Phillips 66 accounts for approximately 5.9% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Hi Line Capital Management LLC’s holdings in Phillips 66 were worth $16,652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Wellington Management Group LLP boosted its holdings in Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after acquiring an additional 1,842,226 shares during the last quarter. Morgan Stanley boosted its holdings in Phillips 66 by 2.1% in the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after acquiring an additional 138,646 shares during the last quarter. Norges Bank bought a new stake in Phillips 66 in the fourth quarter valued at approximately $559,435,000. Boston Partners boosted its holdings in Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after acquiring an additional 3,494,878 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Phillips 66 by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,702,734 shares of the oil and gas company’s stock valued at $492,974,000 after acquiring an additional 315,889 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PSX. JPMorgan Chase & Co. increased their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Scotiabank increased their price target on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler cut their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Finally, Wells Fargo & Company increased their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $0.14 during trading hours on Monday, hitting $141.31. 690,151 shares of the company’s stock traded hands, compared to its average volume of 2,777,970. Phillips 66 has a 12-month low of $94.51 and a 12-month high of $174.08. The stock has a market capitalization of $59.91 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.34. The company has a fifty day simple moving average of $142.91 and a 200-day simple moving average of $144.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (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 business had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same period in the prior year, the business earned $4.21 earnings per share. Equities research analysts anticipate that Phillips 66 will post 11.08 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.26%. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

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.