Steward Partners Investment Solutions LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Steward Partners Investment Solutions LLC purchased a new stake in Phillips 66 (NYSE:PSXFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,284 shares of the oil and gas company’s stock, valued at approximately $1,369,000.

A number of other institutional investors also recently modified their holdings of the business. Jump Financial LLC increased its holdings in Phillips 66 by 20.1% in the 3rd quarter. Jump Financial LLC now owns 4,846 shares of the oil and gas company’s stock worth $582,000 after purchasing an additional 811 shares in the last quarter. Merit Financial Group LLC grew its holdings in Phillips 66 by 10.3% during the third quarter. Merit Financial Group LLC now owns 2,397 shares of the oil and gas company’s stock worth $288,000 after buying an additional 223 shares in the last quarter. Boston Partners boosted its holdings in Phillips 66 by 2.7% during the third quarter. Boston Partners now owns 363,292 shares of the oil and gas company’s stock worth $43,638,000 after purchasing an additional 9,448 shares during the last quarter. Trillium Asset Management LLC bought a new stake in Phillips 66 during the third quarter worth $232,000. Finally, Western Wealth Management LLC boosted its holdings in shares of Phillips 66 by 2.1% in the 3rd quarter. Western Wealth Management LLC now owns 15,695 shares of the oil and gas company’s stock worth $1,886,000 after buying an additional 326 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction 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 completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The disclosure for this sale can be found here. Insiders sold 50,864 shares of company stock valued at $7,567,178 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent research reports. Argus reissued a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research report on Thursday. Scotiabank boosted their price objective on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Bank of America raised their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Mizuho reduced their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Raymond James decreased their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.93.

Get Our Latest Analysis on PSX

Phillips 66 Price Performance

Shares of PSX stock traded down $2.89 during trading hours on Monday, hitting $139.22. 1,055,610 shares of the company’s stock were exchanged, compared to its average volume of 2,776,011. 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 firm has a 50 day moving average of $152.83 and a two-hundred day moving average of $142.62. The firm has a market cap of $59.02 billion, a P/E ratio of 10.93, a P/E/G ratio of 1.95 and a beta of 1.37. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSXGet Free Report) last posted 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 company had revenue of $36.44 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $4.21 EPS. Sell-side analysts forecast that Phillips 66 will post 12.16 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared 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. This represents a $4.60 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 35.38%.

Phillips 66 Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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