Eagle Ridge Investment Management Takes Position in Phillips 66 (NYSE:PSX)

Eagle Ridge Investment Management acquired a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,577 shares of the oil and gas company’s stock, valued at approximately $210,000.

Other hedge funds also recently modified their holdings of the company. Cardinal Capital Management raised its position in shares of Phillips 66 by 0.3% during the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after buying an additional 77 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Phillips 66 by 3.6% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after buying an additional 82 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in shares of Phillips 66 by 1.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after buying an additional 86 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Phillips 66 by 0.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after buying an additional 90 shares in the last quarter. Finally, West Branch Capital LLC raised its position in shares of Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.6 %

Shares of PSX traded down $0.97 during trading hours on Monday, reaching $150.44. 1,576,974 shares of the company traded hands, compared to its average volume of 2,958,279. The company’s fifty day moving average price is $155.55 and its two-hundred day moving average price is $137.23. The company has a market capitalization of $64.36 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.07%. During the same period in the previous year, the firm posted $4.21 EPS. Equities research analysts predict that Phillips 66 will post 13.77 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Analyst Ratings Changes

Several analysts have recently weighed in on PSX shares. Piper Sandler raised their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company increased their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Citigroup initiated coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, Barclays increased their target price on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Activity at Phillips 66

In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated 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 directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 in the last three months. Company 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.