Private Advisor Group LLC Increases Stock Holdings in Phillips 66 (NYSE:PSX)

Private Advisor Group LLC boosted its position in Phillips 66 (NYSE:PSX) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,594 shares of the oil and gas company’s stock after buying an additional 3,981 shares during the period. Private Advisor Group LLC’s holdings in Phillips 66 were worth $6,070,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its position in Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth approximately $10,402,000. Choate Investment Advisors purchased a new position in Phillips 66 in the 3rd quarter valued at approximately $247,000. First Dallas Securities Inc. acquired a new stake in Phillips 66 in the third quarter valued at $753,000. Finally, TIAA Trust National Association boosted its position in shares of Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost 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 in the company, valued at $278,502. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Robert W. Pease acquired 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 acquisition, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 in the last three months. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PSX shares. Wells Fargo & Company increased their price target 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. Barclays cut their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Piper Sandler raised their price objective on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. The Goldman Sachs Group increased their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Raymond James lifted their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Trading Up 1.2 %

NYSE:PSX opened at $146.94 on Thursday. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company has a market cap of $62.30 billion, a PE ratio of 11.30, a P/E/G ratio of 1.82 and a beta of 1.41. The business’s 50 day moving average is $155.48 and its two-hundred day moving average is $138.78.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the prior year, the company posted $4.21 EPS. On average, analysts predict that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.13%. Phillips 66’s payout ratio is currently 32.31%.

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.