Tarbox Family Office Inc. Decreases Stock Position in Phillips 66 (NYSE:PSX)

Tarbox Family Office Inc. decreased its stake in shares of Phillips 66 (NYSE:PSX) by 9.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,991 shares of the oil and gas company’s stock after selling 200 shares during the period. Tarbox Family Office Inc.’s holdings in Phillips 66 were worth $325,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $27,000. First United Bank & Trust purchased a new position in Phillips 66 in the fourth quarter valued at $31,000. Signature Resources Capital Management LLC acquired a new stake in Phillips 66 in the fourth quarter valued at $33,000. Bruce G. Allen Investments LLC purchased a new stake in Phillips 66 during the 4th quarter worth about $36,000. Finally, Gladius Capital Management LP acquired a new position in shares of Phillips 66 during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX traded up $2.28 during midday trading on Friday, reaching $141.68. The stock had a trading volume of 559,901 shares, compared to its average volume of 2,716,972. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The stock has a market cap of $60.07 billion, a P/E ratio of 10.72, a P/E/G ratio of 2.08 and a beta of 1.37. The firm has a fifty day simple moving average of $143.46 and a two-hundred day simple moving average of $144.50. Phillips 66 has a 12-month low of $93.40 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last issued 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). The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the firm earned $4.21 EPS. On average, equities analysts expect that Phillips 66 will post 11.22 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $1.15 dividend. The ex-dividend date was Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.25%. Phillips 66’s payout ratio is 35.38%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group upped their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Piper Sandler lowered their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Mizuho cut their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Scotiabank upped their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Argus reaffirmed a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $157.79.

Phillips 66 Company 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.