Phillips 66 (NYSE:PSX) Shares Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. lifted its stake in shares of Phillips 66 (NYSE:PSX) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,488 shares of the oil and gas company’s stock after acquiring an additional 385 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Phillips 66 were worth $864,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Cornerstone Planning Group LLC grew its position 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 worth $32,000 after buying an additional 151 shares during the last quarter. Signature Resources Capital Management LLC acquired a new position in Phillips 66 in the fourth quarter worth approximately $33,000. Bruce G. Allen Investments LLC acquired a new position in Phillips 66 in the 4th quarter worth approximately $36,000. Bell Investment Advisors Inc boosted its stake in Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 138 shares during the period. Finally, West Branch Capital LLC boosted its stake in Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSX. Mizuho decreased their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Barclays decreased their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday. Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Insiders Place Their Bets

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction that occurred on 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 purchase, the director now directly owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have 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 Stock Performance

Shares of NYSE PSX traded down $0.26 during trading hours on Friday, hitting $143.61. 1,806,203 shares of the stock were exchanged, compared to its average volume of 2,353,122. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company’s 50 day moving average is $155.55 and its 200 day moving average is $138.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.02. The firm has a market capitalization of $60.88 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm 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 19.19%. During the same quarter last year, the company earned $4.21 earnings per share. On average, research analysts expect that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.20%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

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.