Royal Fund Management LLC Has $8.44 Million Stake in Phillips 66 $PSX

Royal Fund Management LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 14.1% during the 1st quarter, HoldingsChannel reports. The firm owned 46,312 shares of the oil and gas company’s stock after selling 7,589 shares during the quarter. Royal Fund Management LLC’s holdings in Phillips 66 were worth $8,439,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after buying an additional 7,214 shares during the period. Woodline Partners LP raised its position in Phillips 66 by 40.7% during the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after buying an additional 10,089 shares during the period. Sei Investments Co. lifted its stake in Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after acquiring an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock worth $41,359,000 after acquiring an additional 28,988 shares in the last quarter. Finally, Glenview Trust co lifted its stake in Phillips 66 by 2.6% in the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after acquiring an additional 229 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

More Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Energy-sector momentum: Energy stocks rallied late Wednesday, with the NYSE Energy Sector Index rising 2.3%, providing a favorable backdrop for refiners such as Phillips 66. Sector Update: Energy Stocks Gain Late Afternoon
• Positive Sentiment: Refining margins remain supportive: Iran-related supply disruptions and record crack spreads are improving the earnings outlook for U.S. refiners. Phillips 66 has also benefited from better recent results, shareholder returns and a quarterly dividend of $1.27, or $5.08 annualized. Phillips 66 Gains On Refining Strength, Is The Stock Fully Priced?
• Positive Sentiment: Potential asset-sale proceeds: Phillips 66 and Shell are reportedly considering selling their stakes in Explorer, which owns a major refined-products pipeline valued at approximately $3.5 billion. A transaction could unlock value and strengthen PSX’s balance sheet, although no deal is confirmed. Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the transaction, the executive vice president directly owned 27,537 shares in the company, valued at $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 45,107 shares of company stock valued at $8,057,584. Insiders own 0.40% of the company’s stock.

Phillips 66 Trading Up 0.5%

NYSE:PSX opened at $206.97 on Thursday. The company has a market capitalization of $82.98 billion, a P/E ratio of 20.39, a P/E/G ratio of 0.16 and a beta of 0.69. The stock’s 50 day moving average price is $184.11 and its 200 day moving average price is $169.90. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $216.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.90) earnings per share. On average, research analysts forecast that Phillips 66 will post 22.43 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.5%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Scotiabank upped their target price on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Morgan Stanley upped their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $170.00 to $212.00 in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.72.

Phillips 66 Company Profile

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.