Toroso Investments LLC Increases Position in Phillips 66 (NYSE:PSX)

Toroso Investments LLC grew its holdings in Phillips 66 (NYSE:PSX – Get Rating) by 16.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,512 shares of the oil and gas company’s stock after buying an additional 3,213 shares during the period. Toroso Investments LLC’s holdings in Phillips 66 were worth $1,817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Hallmark Capital Management Inc. raised its holdings in Phillips 66 by 62.5% during the third quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. Horan Securities Inc. raised its holdings in Phillips 66 by 210.6% during the third quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 238 shares in the last quarter. Core Alternative Capital raised its holdings in Phillips 66 by 218.3% during the third quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 251 shares in the last quarter. Worth Asset Management LLC purchased a new position in Phillips 66 during the first quarter worth about $32,000. Finally, Heritage Wealth Management LLC purchased a new position in Phillips 66 during the second quarter worth about $37,000. 70.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gregory Hayes bought 10,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were purchased at an average price of $97.75 per share, for a total transaction of $1,001,937.50. Following the completion of the transaction, the director now owns 14,299 shares in the company, valued at $1,397,727.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of several analyst reports. Raymond James increased their price target on shares of Phillips 66 from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, January 13th. StockNews.com started coverage on shares of Phillips 66 in a report on Thursday. They set a “buy” rating for the company. UBS Group started coverage on shares of Phillips 66 in a report on Wednesday, March 8th. They issued a “buy” rating and a $139.00 target price for the company. Royal Bank of Canada increased their target price on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Finally, Piper Sandler dropped their target price on shares of Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

Phillips 66 Stock Down 0.3 %

PSX stock opened at $94.72 on Friday. The company’s 50 day simple moving average is $102.53 and its 200-day simple moving average is $99.39. The firm has a market capitalization of $43.94 billion, a PE ratio of 4.13, a P/E/G ratio of 0.33 and a beta of 1.37. Phillips 66 has a 12 month low of $74.02 and a 12 month high of $113.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 1.17.

Phillips 66 (NYSE:PSX – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.35). Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. The business had revenue of $40.91 billion during the quarter, compared to analyst estimates of $34.30 billion. During the same quarter in the prior year, the company earned $2.94 earnings per share. Equities analysts expect that Phillips 66 will post 15.68 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Friday, February 17th. This represents a $4.20 dividend on an annualized basis and a yield of 4.43%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s dividend payout ratio (DPR) is 18.30%.

About Phillips 66

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.