Cookson Peirce & Co. Inc. Boosts Position in Phillips 66 (NYSE:PSX)

Cookson Peirce & Co. Inc. boosted its stake in Phillips 66 (NYSE:PSX) by 2,324.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 211,478 shares of the oil and gas company’s stock after buying an additional 202,754 shares during the period. Phillips 66 makes up approximately 1.7% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its 17th biggest position. Cookson Peirce & Co. Inc.’s holdings in Phillips 66 were worth $28,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in Phillips 66 by 0.6% in the 2nd quarter. Wells Fargo & Company MN now owns 17,121,154 shares of the oil and gas company’s stock valued at $1,633,016,000 after buying an additional 97,198 shares during the period. Moneta Group Investment Advisors LLC grew its position in Phillips 66 by 100,843.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after acquiring an additional 9,969,418 shares in the last quarter. Barclays PLC grew its position in Phillips 66 by 4.2% in the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock valued at $932,447,000 after acquiring an additional 309,239 shares in the last quarter. Wellington Management Group LLP grew its position in Phillips 66 by 62.1% in the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after acquiring an additional 2,753,700 shares in the last quarter. Finally, Morgan Stanley grew its position in Phillips 66 by 16.2% in the 4th quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock valued at $724,566,000 after acquiring an additional 968,055 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 1.8 %

PSX traded down $2.88 on Tuesday, reaching $157.94. The company’s stock had a trading volume of 795,562 shares, compared to its average volume of 3,023,973. The stock has a 50 day moving average of $153.64 and a two-hundred day moving average of $134.51. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $67.57 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 2.05 and a beta of 1.37. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. As a group, analysts forecast that Phillips 66 will post 13.2 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 2.91%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 27.15%.

Analysts Set New Price Targets

Several research firms have weighed in on PSX. Mizuho dropped their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America lifted their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Scotiabank lifted their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Barclays boosted their price objective on Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.86.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by insiders.

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.