LifePlan Financial LLC Acquires New Position in Phillips 66 (NYSE:PSX)

LifePlan Financial LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,954 shares of the oil and gas company’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Cornerstone Planning Group LLC lifted its stake in Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 151 shares during the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Phillips 66 in the second quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth $36,000. West Branch Capital LLC lifted its stake in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the last quarter. Finally, Bell Investment Advisors Inc lifted its stake in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 1.0 %

Phillips 66 stock traded down $1.67 during trading hours on Monday, reaching $160.82. 1,587,531 shares of the company’s stock traded hands, compared to its average volume of 3,055,468. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The firm has a market capitalization of $68.80 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 2.05 and a beta of 1.37. The firm’s 50 day moving average is $153.37 and its 200-day moving average is $134.25.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. On average, analysts predict that Phillips 66 will post 13.2 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 2.86%. Phillips 66’s dividend payout ratio (DPR) is presently 27.15%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PSX shares. Raymond James boosted their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Scotiabank boosted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday. The Goldman Sachs Group boosted their price target 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, Piper Sandler boosted their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.86.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. 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 90 days. 0.22% of the stock is owned by insiders.

Phillips 66 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.