Bleakley Financial Group LLC Grows Stock Position in Phillips 66 (NYSE:PSX)

Bleakley Financial Group LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,242 shares of the oil and gas company’s stock after buying an additional 362 shares during the quarter. Bleakley Financial Group LLC’s holdings in Phillips 66 were worth $1,097,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First Capital Advisors Group LLC. purchased a new position in Phillips 66 during the second quarter worth approximately $25,000. Cornerstone Planning Group LLC lifted its position in Phillips 66 by 134.8% during 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 in the last quarter. Worth Asset Management LLC purchased a new position in Phillips 66 during the first quarter worth approximately $32,000. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 during the fourth quarter worth approximately $36,000. Finally, Bell Investment Advisors Inc lifted its position in Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PSX shares. Bank of America lifted their price objective on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. The Goldman Sachs Group raised their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler raised their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Scotiabank raised their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday. Finally, Barclays raised their target price on Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.21.

Phillips 66 Trading Up 0.2 %

Shares of NYSE PSX opened at $165.47 on Friday. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $153.03 and a 200-day simple moving average of $133.76. The stock has a market capitalization of $70.79 billion, a PE ratio of 10.70, a PEG ratio of 2.07 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. On average, equities analysts forecast that Phillips 66 will post 13.3 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.78%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is presently 27.15%.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly 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 sold 35,056 shares of company stock valued at $5,272,681 in the last three months. 4.57% of the stock is owned by corporate insiders.

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.