Kayne Anderson Capital Advisors LP Buys 206,950 Shares of Phillips 66 (NYSE:PSX)

Kayne Anderson Capital Advisors LP lifted its stake in shares of Phillips 66 (NYSE:PSX) by 125.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 371,548 shares of the oil and gas company’s stock after purchasing an additional 206,950 shares during the quarter. Phillips 66 accounts for about 1.5% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 20th largest position. Kayne Anderson Capital Advisors LP owned about 0.08% of Phillips 66 worth $49,468,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Phillips 66 in the fourth quarter worth about $254,336,000. Bahl & Gaynor Inc. lifted its stake in Phillips 66 by 41.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock worth $181,049,000 after purchasing an additional 439,360 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Phillips 66 by 1,038.3% in the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after purchasing an additional 430,723 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Phillips 66 by 53.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after purchasing an additional 421,714 shares in the last quarter. Finally, Nomura Holdings Inc. increased its holdings in shares of Phillips 66 by 10,239.5% in the third quarter. Nomura Holdings Inc. now owns 399,000 shares of the oil and gas company’s stock worth $47,940,000 after purchasing an additional 395,141 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PSX. Scotiabank boosted their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Citigroup assumed coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Piper Sandler boosted their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Barclays lowered their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Trading Up 1.4 %

Phillips 66 stock traded up $2.05 during trading hours on Thursday, reaching $148.99. The stock had a trading volume of 299,802 shares, compared to its average volume of 2,909,981. The stock has a market cap of $63.16 billion, a PE ratio of 11.30, a PEG ratio of 1.82 and a beta of 1.41. The company has a fifty day simple moving average of $155.48 and a 200-day simple moving average of $138.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the prior year, the firm earned $4.21 EPS. Analysts forecast that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors 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 dividend on an annualized basis and a yield of 3.09%. Phillips 66’s dividend payout ratio (DPR) is presently 32.31%.

Insider Activity at Phillips 66

In related news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Robert W. Pease bought 682 shares of Phillips 66 stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

About Phillips 66

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.