Legacy Capital Wealth Partners LLC Boosts Stake in Phillips 66 (NYSE:PSX)

Legacy Capital Wealth Partners LLC increased its stake in Phillips 66 (NYSE:PSX) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,258 shares of the oil and gas company’s stock after buying an additional 364 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Phillips 66 were worth $301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cornerstone Planning Group LLC raised its holdings in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at $36,000. West Branch Capital LLC lifted its holdings in Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares in the last quarter. Finally, Headinvest LLC acquired a new position in shares of Phillips 66 in the 3rd quarter worth $51,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.1 %

Shares of NYSE PSX opened at $151.52 on Tuesday. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The firm’s 50-day moving average is $155.70 and its 200-day moving average is $137.52. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $64.82 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. During the same period in the prior year, the firm posted $4.21 EPS. Equities analysts expect that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced 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. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.04%. Phillips 66’s dividend payout ratio is presently 32.31%.

Insider Transactions at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on 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 $1,036,164.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PSX. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating for the company. Piper Sandler increased their price objective on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Mizuho cut their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $158.00.

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.