Acadian Asset Management LLC Sells 312,217 Shares of Phillips 66 (NYSE:PSX)

Acadian Asset Management LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 78.0% during the 1st quarter, Holdings Channel reports. The firm owned 88,276 shares of the oil and gas company’s stock after selling 312,217 shares during the period. Acadian Asset Management LLC’s holdings in Phillips 66 were worth $14,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Madison Park Capital Advisors LLC raised its position in Phillips 66 by 3.0% during the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 68 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of Phillips 66 by 1.6% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock worth $729,000 after buying an additional 71 shares during the last quarter. Warwick Investment Management Inc. lifted its position in shares of Phillips 66 by 3.1% during the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after buying an additional 73 shares during the last quarter. MV Capital Management Inc. boosted its stake in Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 73 shares in the last quarter. Finally, HCR Wealth Advisors grew its position in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after acquiring an additional 74 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.6 %

Shares of Phillips 66 stock traded up $0.77 on Friday, hitting $138.47. 1,787,005 shares of the company’s stock traded hands, compared to its average volume of 2,415,453. The company has a fifty day moving average of $139.72 and a two-hundred day moving average of $145.35. Phillips 66 has a one year low of $103.12 and a one year high of $174.08. The company has a market capitalization of $58.70 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 2.27 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the previous year, the company posted $4.21 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 10.06 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s payout ratio is 35.38%.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of a number of research reports. Argus reissued a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Barclays cut their target price on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Scotiabank reduced their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $158.23.

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.