Phillips 66 (NYSE:PSX) Shares Purchased by Wealth Alliance

Wealth Alliance lifted its holdings in Phillips 66 (NYSE:PSX) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,201 shares of the oil and gas company’s stock after purchasing an additional 121 shares during the quarter. Wealth Alliance’s holdings in Phillips 66 were worth $692,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of PSX. Bornite Capital Management LP bought a new position in shares of Phillips 66 in the first quarter worth $8,639,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Phillips 66 by 316.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after buying an additional 5,012 shares in the last quarter. Synovus Financial Corp boosted its stake in Phillips 66 by 5.1% during the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after buying an additional 788 shares in the last quarter. Cibc World Market Inc. boosted its stake in Phillips 66 by 61.9% during the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after buying an additional 2,766 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in Phillips 66 by 103.8% during the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock valued at $4,625,000 after buying an additional 27,267 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Mizuho decreased their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Citigroup began coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. Scotiabank increased their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Piper Sandler increased their price objective on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $156.86.

Phillips 66 Stock Down 0.4 %

Shares of PSX stock opened at $157.28 on Thursday. The stock’s 50 day simple moving average is $154.09 and its 200 day simple moving average is $134.94. 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 twelve month low of $89.74 and a twelve month high of $174.08. The company has a market capitalization of $67.29 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.99 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The business had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. As a group, research analysts predict that Phillips 66 will post 13.2 EPS for the current year.

Phillips 66 Increases Dividend

The business 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 $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.92%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 27.15%.

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.