MCF Advisors LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 14.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 908 shares of the oil and gas company’s stock after selling 158 shares during the period. MCF Advisors LLC’s holdings in Phillips 66 were worth $86,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in PSX. Morgan Stanley raised its position in shares of Phillips 66 by 3.0% during the 3rd quarter. Morgan Stanley now owns 3,445,696 shares of the oil and gas company’s stock worth $388,399,000 after purchasing an additional 100,046 shares during the last quarter. Vanguard Group Inc raised its position in shares of Phillips 66 by 2.8% during the 3rd quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock worth $3,719,598,000 after purchasing an additional 885,979 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of Phillips 66 by 282.7% during the 3rd quarter. Federated Investors Inc. PA now owns 172,642 shares of the oil and gas company’s stock worth $19,461,000 after purchasing an additional 127,532 shares during the last quarter. Coastline Trust Co raised its position in shares of Phillips 66 by 0.7% during the 4th quarter. Coastline Trust Co now owns 16,200 shares of the oil and gas company’s stock worth $1,395,000 after purchasing an additional 111 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in shares of Phillips 66 by 275.6% during the 4th quarter. First Citizens Bank & Trust Co. now owns 20,107 shares of the oil and gas company’s stock worth $1,733,000 after purchasing an additional 14,753 shares during the last quarter. 71.83% of the stock is owned by institutional investors.

In other news, Chairman Greg C. Garland sold 42,728 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total transaction of $4,170,680.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John E. Lowe acquired 2,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were bought at an average cost of $84.41 per share, with a total value of $168,820.00. The disclosure for this purchase can be found here. 0.13% of the stock is owned by insiders.

Several research analysts recently issued reports on PSX shares. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Monday, April 29th. They noted that the move was a valuation call. Argus cut their price objective on Phillips 66 to $116.00 and set a “buy” rating for the company in a research report on Thursday, February 14th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Jefferies Financial Group cut shares of Phillips 66 from a “buy” rating to a “hold” rating and lifted their target price for the stock from $105.00 to $107.00 in a research note on Monday, April 15th. Finally, Citigroup lifted their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $120.67.

PSX stock traded up $1.14 during midday trading on Thursday, hitting $88.44. The stock had a trading volume of 37,329 shares, compared to its average volume of 2,678,004. The stock has a market capitalization of $38.91 billion, a P/E ratio of 7.56, a PEG ratio of 1.36 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $123.97.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. The firm had revenue of $23.66 billion during the quarter, compared to analysts’ expectations of $24.66 billion. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. During the same period in the previous year, the company earned $1.04 EPS. Research analysts forecast that Phillips 66 will post 7.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 4.07%. Phillips 66’s payout ratio is currently 27.33%.

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About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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

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