Measured Wealth Private Client Group LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,478 shares of the oil and gas company’s stock, valued at approximately $616,000.
A number of other institutional investors have also recently made changes to their positions in PSX. Winslow Evans & Crocker Inc. boosted its stake in shares of Phillips 66 by 2.5% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,186 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 104 shares in the last quarter. Torray LLC raised its holdings in Phillips 66 by 0.6% during the 4th quarter. Torray LLC now owns 16,962 shares of the oil and gas company’s stock worth $1,461,000 after purchasing an additional 106 shares during the last quarter. Pflug Koory LLC raised its holdings in Phillips 66 by 3.2% during the 4th quarter. Pflug Koory LLC now owns 3,584 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 110 shares during the last quarter. First Foundation Advisors raised its holdings in Phillips 66 by 2.1% during the 4th quarter. First Foundation Advisors now owns 5,357 shares of the oil and gas company’s stock worth $462,000 after purchasing an additional 112 shares during the last quarter. Finally, Deane Retirement Strategies Inc. raised its holdings in Phillips 66 by 0.6% during the 1st quarter. Deane Retirement Strategies Inc. now owns 18,423 shares of the oil and gas company’s stock worth $1,754,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 71.83% of the company’s stock.
In other news, Chairman Greg C. Garland sold 42,728 shares of Phillips 66 stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Lowe acquired 2,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was bought at an average price of $84.41 per share, with a total value of $168,820.00. The disclosure for this purchase can be found here. Insiders own 0.13% of the company’s stock.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The company had revenue of $23.66 billion during the quarter, compared to analyst estimates of $24.66 billion. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. During the same quarter in the previous year, the business posted $1.04 EPS. Analysts forecast that Phillips 66 will post 7.43 EPS 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 $0.90 dividend. The ex-dividend date is Friday, May 17th. This represents a $3.60 annualized dividend and a dividend yield of 4.16%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.80. Phillips 66’s payout ratio is currently 27.33%.
PSX has been the subject of several analyst reports. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Argus lowered their price target on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a report on Thursday, February 14th. Citigroup raised their price target on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Jefferies Financial Group lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and raised their price target for the stock from $105.00 to $107.00 in a report on Monday, April 15th. Finally, ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Phillips 66 currently has a consensus rating of “Hold” and a consensus target price of $119.42.
Phillips 66 Profile
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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