Wellington Management Group LLP Boosts Stock Holdings in Phillips 66 (NYSE:PSX)

Wellington Management Group LLP boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 20.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,903,130 shares of the oil and gas company's stock after purchasing an additional 1,842,226 shares during the period. Wellington Management Group LLP owned approximately 2.55% of Phillips 66 worth $1,451,643,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PSX. Creekmur Asset Management LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at $970,000. Scarborough Advisors LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at $174,000. Counterweight Ventures LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at $308,000. Syon Capital LLC raised its stake in shares of Phillips 66 by 7.9% in the 4th quarter. Syon Capital LLC now owns 3,401 shares of the oil and gas company's stock valued at $453,000 after acquiring an additional 248 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Phillips 66 by 14.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company's stock valued at $38,530,000 after acquiring an additional 36,116 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Activity at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business's 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 sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold a total of 50,864 shares of company stock worth $7,567,178 in the last ninety days. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

PSX has been the subject of a number of recent analyst reports. Bank of America raised their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, March 15th. Piper Sandler lowered their price target on shares of Phillips 66 from $170.00 to $151.00 and set an "overweight" rating for the company in a report on Friday. Argus reaffirmed a "buy" rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Scotiabank raised their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group raised their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.57.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.91 during midday trading on Friday, hitting $136.76. The company's stock had a trading volume of 2,107,760 shares, compared to its average volume of 2,033,896. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The firm's fifty day moving average price is $147.44 and its 200-day moving average price is $144.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The firm has a market cap of $57.98 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.87 and a beta of 1.37.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period last year, the firm posted $4.21 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 12.16 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given 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 annualized dividend and a yield of 3.36%. Phillips 66's dividend payout ratio (DPR) is currently 35.38%.

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.

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