Telos Capital Management Inc. Lowers Stock Holdings in Phillips 66 (NYSE:PSX)

Telos Capital Management Inc. lessened its stake in shares of Phillips 66 (NYSE:PSX) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,781 shares of the oil and gas company’s stock after selling 1,134 shares during the quarter. Telos Capital Management Inc.’s holdings in Phillips 66 were worth $5,829,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bornite Capital Management LP acquired a new stake in shares of Phillips 66 in the 1st quarter worth $8,639,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Phillips 66 by 316.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock worth $570,000 after purchasing an additional 5,012 shares in the last quarter. Synovus Financial Corp lifted its position in Phillips 66 by 5.1% in the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after purchasing an additional 788 shares during the period. Cibc World Market Inc. boosted its holdings in Phillips 66 by 61.9% in the 1st quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after purchasing an additional 2,766 shares in the last quarter. Finally, Blair William & Co. IL increased its position in Phillips 66 by 103.8% during the 1st quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after purchasing an additional 27,267 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX stock traded down $0.03 on Wednesday, reaching $157.85. The company had a trading volume of 932,477 shares, compared to its average volume of 3,010,387. The company’s fifty day moving average is $153.87 and its 200 day moving average is $134.78. The company has a market cap of $67.53 billion, a P/E ratio of 10.21, a PEG ratio of 2.03 and a beta of 1.37. 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 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) 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 return on equity of 22.10% and a net margin of 4.68%. On average, research analysts forecast that Phillips 66 will post 13.2 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders 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 yield of 2.91%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is 27.15%.

Insiders Place Their Bets

In other news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last ninety days. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. Citigroup assumed coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Mizuho reduced their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. The Goldman Sachs Group upped 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. Barclays increased their price target on shares of Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Finally, Wells Fargo & Company raised their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $156.86.

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.