RNC Capital Management LLC Increases Stock Holdings in Phillips 66 (NYSE:PSX)

RNC Capital Management LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,636 shares of the oil and gas company’s stock after buying an additional 2,894 shares during the period. Phillips 66 comprises approximately 2.9% of RNC Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. RNC Capital Management LLC owned approximately 0.08% of Phillips 66 worth $48,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PSX. First Capital Advisors Group LLC. purchased a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its position in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at approximately $32,000. Bruce G. Allen Investments LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at approximately $36,000. Finally, Bell Investment Advisors Inc lifted its position in shares of Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.5 %

Shares of NYSE:PSX opened at $158.96 on Thursday. 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 firm has a market capitalization of $68.01 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 2.08 and a beta of 1.36. The firm’s 50-day moving average is $145.66 and its two-hundred day moving average is $130.14. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $161.42.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share 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. Analysts predict that Phillips 66 will post 12.55 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were paid a dividend of $1.05 per share. The ex-dividend date was Friday, February 16th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.64%. Phillips 66’s payout ratio is 27.15%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PSX. Mizuho boosted their price target on shares of Phillips 66 from $135.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Barclays boosted their price objective on shares of Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Bank of America boosted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.69.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,309 shares of company stock worth $5,981,836. Company insiders own 4.57% 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.