Procyon Advisors LLC Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

Procyon Advisors LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 25.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,180 shares of the oil and gas company’s stock after selling 7,572 shares during the period. Procyon Advisors LLC’s holdings in Phillips 66 were worth $2,953,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Eldred Rock Partners LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth $10,402,000. Choate Investment Advisors purchased a new stake in shares of Phillips 66 during the 3rd quarter worth $247,000. First Dallas Securities Inc. purchased a new stake in shares of Phillips 66 during the 3rd quarter worth $753,000. Pinebridge Investments L.P. lifted its position in shares of Phillips 66 by 8.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 210,402 shares of the oil and gas company’s stock worth $20,068,000 after purchasing an additional 17,226 shares during the last quarter. Finally, 17 Capital Partners LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth $1,586,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PSX. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $163.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. TD Cowen lifted their price target on shares of Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, December 4th. Citigroup began coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.69.

Insider Activity

In other news, EVP Zhanna Golodryga sold 5,253 shares of Phillips 66 stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $135.00, for a total value of $709,155.00. Following the sale, the executive vice president now owns 24,914 shares of the company’s stock, valued at $3,363,390. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Zhanna Golodryga sold 5,253 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $135.00, for a total transaction of $709,155.00. Following the sale, the executive vice president now directly owns 24,914 shares in the company, valued at approximately $3,363,390. The disclosure for this sale can be found here. Insiders have sold a total of 40,309 shares of company stock valued at $5,981,836 over the last quarter. Corporate insiders own 4.57% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX traded up $1.26 during trading on Thursday, reaching $160.22. The company’s stock had a trading volume of 271,038 shares, compared to its average volume of 3,134,902. The firm has a market cap of $68.55 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 2.08 and a beta of 1.36. The business’s fifty day moving average price is $145.66 and its 200-day moving average price is $130.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $161.42.

Phillips 66 (NYSE:PSX) last issued its 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 for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, analysts anticipate that Phillips 66 will post 12.55 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Friday, February 16th. Phillips 66’s payout ratio is 27.15%.

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.