Bryn Mawr Capital Management LLC Has $10.55 Million Holdings in Phillips 66 (NYSE:PSX)

Bryn Mawr Capital Management LLC decreased its position in Phillips 66 (NYSE:PSX) by 34.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,265 shares of the oil and gas company’s stock after selling 42,523 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Phillips 66 were worth $10,553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its position in shares of Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after purchasing an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $10,402,000. Choate Investment Advisors acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $247,000. First Dallas Securities Inc. acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $753,000. Finally, TIAA Trust National Association grew its position in shares of Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after purchasing an additional 3,670 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research reports. Scotiabank upped their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Citigroup began coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating on the stock. Raymond James increased their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Piper Sandler increased their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $158.00.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock worth $5,272,681. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 3.6 %

NYSE PSX opened at $151.52 on Friday. The business has a fifty day moving average price of $155.55 and a two-hundred day moving average price of $136.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The stock has a market capitalization of $64.82 billion, a PE ratio of 9.79, a PEG ratio of 1.90 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same period in the prior year, the firm earned $4.21 EPS. Equities analysts expect that Phillips 66 will post 13.77 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.04%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is presently 27.15%.

Phillips 66 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.