Trueblood Wealth Management LLC Takes $290,000 Position in Phillips 66 (NYSE:PSX)

Trueblood Wealth Management LLC bought a new position in Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,181 shares of the oil and gas company’s stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bornite Capital Management LP acquired a new stake in Phillips 66 in the first quarter valued at approximately $8,639,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Phillips 66 by 316.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after acquiring an additional 5,012 shares during the period. Synovus Financial Corp lifted its stake in Phillips 66 by 5.1% during the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock worth $1,405,000 after purchasing an additional 788 shares in the last quarter. Cibc World Market Inc. boosted its holdings in Phillips 66 by 61.9% during the 1st quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after acquiring an additional 2,766 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Phillips 66 by 103.8% in the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after acquiring an additional 27,267 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Zhanna Golodryga sold 5,253 shares of Phillips 66 stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $135.00, for a total value of $709,155.00. Following the sale, the executive vice president now owns 24,914 shares in the company, valued at $3,363,390. The disclosure for this sale can be found here. Insiders sold a total of 40,309 shares of company stock worth $5,981,836 over the last ninety days. 4.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PSX shares. Mizuho raised their price objective on shares of Phillips 66 from $135.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. Barclays lifted their price target on shares of Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. TD Cowen raised their target price on shares of Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Finally, Citigroup initiated coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.69.

Phillips 66 Price Performance

PSX traded up $4.38 during midday trading on Thursday, reaching $163.34. 3,165,610 shares of the company’s stock were exchanged, compared to its average volume of 3,183,974. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $163.79. The stock has a market capitalization of $69.88 billion, a PE ratio of 10.28, a P/E/G ratio of 2.08 and a beta of 1.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The business’s 50-day moving average price is $145.66 and its 200 day moving average price is $130.14.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. As a group, equities analysts anticipate that Phillips 66 will post 12.55 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were issued a $1.05 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $4.20 annualized dividend and a yield of 2.57%. Phillips 66’s payout ratio is 27.15%.

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.