Phillips 66 $PSX Shares Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 11.1% in the fourth quarter, HoldingsChannel reports. The firm owned 100,000 shares of the oil and gas company’s stock after acquiring an additional 10,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Phillips 66 were worth $12,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GHP Investment Advisors Inc. raised its position in shares of Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after buying an additional 72 shares in the last quarter. L2 Asset Management LLC raised its position in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after buying an additional 72 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after buying an additional 73 shares in the last quarter. KCM Investment Advisors LLC raised its position in shares of Phillips 66 by 1.6% during the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock worth $631,000 after buying an additional 74 shares in the last quarter. Finally, Abacus Planning Group Inc. raised its position in shares of Phillips 66 by 3.9% during the 4th quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock worth $257,000 after buying an additional 74 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Mandell sold 42,800 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the sale, the executive vice president owned 61,595 shares in the company, valued at $10,442,200.35. This represents a 41.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 121,529 shares of company stock worth $20,841,455. Company insiders own 0.40% of the company’s stock.

Phillips 66 Stock Up 0.1%

NYSE PSX opened at $176.42 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company’s 50 day simple moving average is $170.79 and its 200 day simple moving average is $151.93. Phillips 66 has a 12 month low of $109.75 and a 12 month high of $190.61. The company has a market capitalization of $70.73 billion, a P/E ratio of 17.38, a PEG ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the previous year, the firm earned ($0.90) EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts expect that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler boosted their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Morgan Stanley restated an “overweight” rating and set a $180.00 price target on shares of Phillips 66 in a research report on Thursday, April 30th. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $186.00 to $192.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. TD Cowen boosted their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Finally, Wolfe Research boosted their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.28.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.