Sapient Capital LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Sapient Capital LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,019 shares of the oil and gas company’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSX. First Capital Advisors Group LLC. bought a new stake in Phillips 66 during the second quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its position in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares in the last quarter. Worth Asset Management LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at approximately $32,000. Bruce G. Allen Investments LLC bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $36,000. Finally, Bell Investment Advisors Inc boosted its holdings in Phillips 66 by 82.1% in 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 during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Bank of America raised their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Piper Sandler increased their price objective 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. Mizuho reduced their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Raymond James upped their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.86.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred 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 owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by insiders.

Phillips 66 Trading Down 1.0 %

PSX opened at $160.82 on Tuesday. Phillips 66 has a 12 month low of $89.74 and a 12 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 50-day moving average of $153.64 and a 200 day moving average of $134.51. The firm has a market cap of $68.80 billion, a P/E ratio of 10.40, a P/E/G ratio of 2.05 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates 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. As a group, research analysts forecast that Phillips 66 will post 13.2 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 2.86%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 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.