Phillips 66 (NYSE:PSX) Shares Bought by Choreo LLC

Choreo LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 12.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,836 shares of the oil and gas company’s stock after buying an additional 648 shares during the period. Choreo LLC’s holdings in Phillips 66 were worth $777,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PSX. International Assets Investment Management LLC acquired a new position in Phillips 66 in the 4th quarter valued at about $254,336,000. Bank of New York Mellon Corp increased its stake in Phillips 66 by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock worth $549,156,000 after buying an additional 502,785 shares during the period. Bahl & Gaynor Inc. lifted its holdings in Phillips 66 by 41.2% during 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 buying an additional 439,360 shares in the last quarter. Acadian Asset Management LLC boosted its position 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 buying an additional 430,723 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Phillips 66 by 53.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock worth $145,951,000 after acquiring an additional 421,714 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on PSX shares. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Barclays lowered their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday. Citigroup initiated coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating on the stock. Bank of America boosted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Wells Fargo & Company raised their price objective 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. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Insider Activity

In related news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

Shares of PSX opened at $140.17 on Thursday. The firm has a fifty day moving average price of $155.67 and a 200 day moving average price of $137.76. The stock has a market cap of $59.43 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.02.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the firm posted $4.21 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 13.13 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. 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 3.28%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is presently 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.