Cerity Partners LLC Grows Stock Position in Phillips 66 (NYSE:PSX)

Cerity Partners LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 29.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,863 shares of the oil and gas company’s stock after purchasing an additional 10,550 shares during the quarter. Cerity Partners LLC’s holdings in Phillips 66 were worth $6,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its stake in shares of Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the period. First Capital Advisors Group LLC. acquired a new stake in Phillips 66 in the second quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in Phillips 66 in the 4th quarter valued at approximately $36,000. West Branch Capital LLC increased its position in Phillips 66 by 49.5% during 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. Finally, Bell Investment Advisors Inc raised its stake in shares of Phillips 66 by 82.1% during the 3rd 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. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last ninety days. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PSX shares. Citigroup began coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. upped their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Barclays increased their price target on shares of Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Bank of America boosted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Piper Sandler increased their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.86.

Phillips 66 Price Performance

PSX stock opened at $160.82 on Tuesday. The stock’s 50 day moving average price is $153.64 and its 200 day moving average price is $134.51. The firm has a market cap of $68.80 billion, a P/E ratio of 10.40, a PEG ratio of 2.05 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The company had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, sell-side analysts expect that Phillips 66 will post 13.2 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company 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. This represents a $4.60 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is 27.15%.

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.