Angeles Wealth Management LLC Raises Holdings in Phillips 66 (NYSE:PSX)

Angeles Wealth Management LLC lifted its stake in Phillips 66 (NYSE:PSXFree Report) by 17.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,647 shares of the oil and gas company’s stock after acquiring an additional 537 shares during the quarter. Angeles Wealth Management LLC’s holdings in Phillips 66 were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Phillips 66 during the fourth quarter worth approximately $559,435,000. Boston Partners boosted its position in Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after purchasing an additional 3,494,878 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Phillips 66 during the fourth quarter worth approximately $254,336,000. Public Employees Retirement Association of Colorado boosted its position in Phillips 66 by 4,556.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock worth $126,885,000 after purchasing an additional 932,552 shares in the last quarter. Finally, Cibc World Markets Corp raised its holdings in shares of Phillips 66 by 2,270.6% during the fourth quarter. Cibc World Markets Corp now owns 582,615 shares of the oil and gas company’s stock valued at $77,569,000 after acquiring an additional 558,038 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction 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 sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The disclosure for this sale can be found here. Insiders have sold 50,864 shares of company stock worth $7,567,178 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

NYSE:PSX opened at $138.07 on Friday. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a market cap of $58.53 billion, a PE ratio of 10.62, a P/E/G ratio of 1.90 and a beta of 1.37. The stock has a 50 day moving average price of $150.65 and a 200 day moving average price of $143.01.

Phillips 66 (NYSE:PSXGet Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 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 during the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the prior year, the firm earned $4.21 EPS. Equities research analysts expect that Phillips 66 will post 12.16 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a $1.15 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.33%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 35.38%.

Analysts Set New Price Targets

A number of equities analysts have commented on PSX shares. Bank of America increased their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Argus reissued a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Raymond James reduced their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Mizuho reduced their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, Piper Sandler reduced their target price on Phillips 66 from $187.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $158.93.

View Our Latest Research Report on PSX

About Phillips 66

(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.

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

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