Phillips 66 $PSX Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 29.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 15,205 shares of the oil and gas company’s stock after buying an additional 3,502 shares during the period. Chicago Partners Investment Group LLC’s holdings in Phillips 66 were worth $2,770,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. J. Safra Sarasin Holding AG boosted its stake in shares of Phillips 66 by 3.0% in the first quarter. J. Safra Sarasin Holding AG now owns 5,776 shares of the oil and gas company’s stock worth $1,052,000 after acquiring an additional 168 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Phillips 66 by 60.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 51,960 shares of the oil and gas company’s stock valued at $9,466,000 after purchasing an additional 19,659 shares during the last quarter. Avion Wealth lifted its holdings in Phillips 66 by 67.2% in the 1st quarter. Avion Wealth now owns 1,361 shares of the oil and gas company’s stock valued at $247,000 after purchasing an additional 547 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Phillips 66 in the 1st quarter valued at $50,000. Finally, Associated Banc Corp boosted its stake in Phillips 66 by 0.5% during the 1st quarter. Associated Banc Corp now owns 97,319 shares of the oil and gas company’s stock worth $17,730,000 after purchasing an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price on shares of Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a research report on Thursday. Raymond James Financial boosted their price target on shares of Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday. Citigroup upped their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. The Goldman Sachs Group raised their target price on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. boosted their target price on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.89.

Phillips 66 Price Performance

NYSE:PSX opened at $198.00 on Tuesday. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $198.58. The stock’s fifty day moving average is $176.76 and its two-hundred day moving average is $163.69. The company has a market capitalization of $79.38 billion, a P/E ratio of 19.51, a P/E/G ratio of 0.25 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.90) EPS. Equities analysts expect that Phillips 66 will post 19.3 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.6%. Phillips 66’s dividend payout ratio is presently 50.05%.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. The trade was a 23.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was bought 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 owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 41,021 shares of company stock valued at $7,195,257. 0.40% of the stock is currently owned by insiders.

About Phillips 66

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.