Sage Mountain Advisors LLC Purchases 271 Shares of Phillips 66 (NYSE:PSX)

Sage Mountain Advisors LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 13.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,225 shares of the oil and gas company’s stock after buying an additional 271 shares during the period. Sage Mountain Advisors LLC’s holdings in Phillips 66 were worth $296,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC grew its position in Phillips 66 by 15.1% during the fourth quarter. Jennison Associates LLC now owns 5,621 shares of the oil and gas company’s stock valued at $748,000 after buying an additional 738 shares during the period. MCF Advisors LLC boosted its stake in Phillips 66 by 1.6% in the fourth quarter. MCF Advisors LLC now owns 6,731 shares of the oil and gas company’s stock valued at $896,000 after acquiring an additional 104 shares during the last quarter. OLD National Bancorp IN grew its position in shares of Phillips 66 by 28.5% during the 4th quarter. OLD National Bancorp IN now owns 8,824 shares of the oil and gas company’s stock valued at $1,175,000 after acquiring an additional 1,957 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Phillips 66 by 5.4% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 8,642 shares of the oil and gas company’s stock worth $1,151,000 after purchasing an additional 445 shares during the last quarter. Finally, LRT Capital Management LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $2,487,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup assumed coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. Scotiabank lifted 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. Mizuho dropped their price objective 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. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays upped their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Stock Performance

Shares of PSX opened at $156.85 on Tuesday. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company has a market cap of $67.10 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. The stock has a 50-day moving average price of $154.65 and a 200-day moving average price of $135.96.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, equities analysts forecast that Phillips 66 will post 13.45 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced 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 yield of 2.93%. The ex-dividend date of this dividend 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 27.15%.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was 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 $278,502. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction 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 SEC, which is available through the SEC website. Also, Director Robert W. Pease purchased 682 shares of the stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

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.