Fernwood Investment Management LLC Sells 325 Shares of Phillips 66 (NYSE:PSX)

Fernwood Investment Management LLC cut its stake in Phillips 66 (NYSE:PSX) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,255 shares of the oil and gas company’s stock after selling 325 shares during the period. Fernwood Investment Management LLC’s holdings in Phillips 66 were worth $2,297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Adell Harriman & Carpenter Inc. lifted its position in shares of Phillips 66 by 1.1% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 91,183 shares of the oil and gas company’s stock valued at $12,140,000 after buying an additional 1,028 shares during the last quarter. Intrust Bank NA lifted its position in shares of Phillips 66 by 1.6% during the fourth quarter. Intrust Bank NA now owns 19,111 shares of the oil and gas company’s stock valued at $2,545,000 after buying an additional 298 shares during the last quarter. Eagle Ridge Investment Management purchased a new stake in shares of Phillips 66 during the fourth quarter valued at about $210,000. Choreo LLC lifted its position in shares of Phillips 66 by 12.5% during the fourth quarter. Choreo LLC now owns 5,836 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 648 shares during the last quarter. Finally, Little House Capital LLC lifted its position in shares of Phillips 66 by 7.1% during the fourth quarter. Little House Capital LLC now owns 1,795 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 119 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $0.11 during midday trading on Monday, reaching $151.52. 2,822,009 shares of the stock were exchanged, compared to its average volume of 2,974,238. The firm has a market cap of $64.82 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.83 and a beta of 1.37. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The firm has a 50-day simple moving average of $155.55 and a two-hundred day simple moving average of $137.23. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. During the same period in the previous year, the business earned $4.21 EPS. As a group, analysts anticipate that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.04%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Analyst Ratings Changes

PSX has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Citigroup began coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays increased their price objective on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Insider Activity at Phillips 66

In related news, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’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 in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company insiders.

About Phillips 66

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.