Shell Asset Management Co. Cuts Holdings in Phillips 66 (PSX)

Shell Asset Management Co. trimmed its holdings in Phillips 66 (NYSE:PSX) by 40.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 51,316 shares of the oil and gas company’s stock after selling 35,264 shares during the quarter. Shell Asset Management Co.’s holdings in Phillips 66 were worth $5,191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. EP Wealth Advisors LLC lifted its holdings in shares of Phillips 66 by 1.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 3,806 shares of the oil and gas company’s stock worth $315,000 after acquiring an additional 70 shares during the last quarter. Monetary Management Group Inc. lifted its holdings in shares of Phillips 66 by 2.1% in the 2nd quarter. Monetary Management Group Inc. now owns 4,877 shares of the oil and gas company’s stock worth $403,000 after acquiring an additional 100 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its holdings in shares of Phillips 66 by 0.6% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 19,058 shares of the oil and gas company’s stock worth $1,575,000 after acquiring an additional 105 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in shares of Phillips 66 by 3.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 4,460 shares of the oil and gas company’s stock worth $372,000 after acquiring an additional 139 shares during the last quarter. Finally, Blue Edge Capital LLC lifted its holdings in shares of Phillips 66 by 3.2% in the 2nd quarter. Blue Edge Capital LLC now owns 5,088 shares of the oil and gas company’s stock worth $421,000 after acquiring an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Shares of Phillips 66 (PSX) opened at $91.99 on Monday. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $107.47. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a market cap of $42,913.34, a price-to-earnings ratio of 21.00, a P/E/G ratio of 1.50 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. Phillips 66 had a net margin of 4.88% and a return on equity of 9.52%. The company had revenue of $30.12 billion during the quarter, compared to analyst estimates of $30.71 billion. During the same period in the prior year, the business posted $0.16 EPS. equities analysts anticipate that Phillips 66 will post 7.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, February 16th. Phillips 66’s payout ratio is currently 28.20%.

A number of equities research analysts have recently weighed in on the stock. Cowen restated an “outperform” rating and issued a $137.00 price objective (up from $125.00) on shares of Phillips 66 in a report on Wednesday, February 14th. Citigroup lowered their price objective on shares of Phillips 66 from $110.00 to $103.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Royal Bank of Canada restated a “hold” rating and issued a $106.00 price objective on shares of Phillips 66 in a report on Tuesday, January 30th. Piper Jaffray Companies restated a “buy” rating and issued a $115.00 price objective on shares of Phillips 66 in a report on Monday, January 22nd. Finally, Morgan Stanley restated an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Phillips 66 has an average rating of “Hold” and a consensus price target of $103.89.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the transaction, the vice president now directly owns 2,700 shares of the company’s stock, valued at approximately $270,675. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

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Phillips 66 Company Profile

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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