Edgestream Partners L.P. Purchases Shares of 41,511 Phillips 66 $PSX

Edgestream Partners L.P. acquired a new position in shares of Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 41,511 shares of the oil and gas company’s stock, valued at approximately $4,952,000.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after acquiring an additional 7,214 shares during the period. Harbour Investments Inc. increased its stake in shares of Phillips 66 by 6.3% in the 1st quarter. Harbour Investments Inc. now owns 3,889 shares of the oil and gas company’s stock valued at $480,000 after purchasing an additional 229 shares in the last quarter. Manchester Capital Management LLC raised its holdings in Phillips 66 by 35.2% in the 1st quarter. Manchester Capital Management LLC now owns 503 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 131 shares during the period. Raiffeisen Bank International AG raised its holdings in Phillips 66 by 43.0% in the 1st quarter. Raiffeisen Bank International AG now owns 4,372 shares of the oil and gas company’s stock worth $532,000 after purchasing an additional 1,314 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Phillips 66 by 3.0% during the first quarter. Commonwealth Equity Services LLC now owns 300,788 shares of the oil and gas company’s stock worth $37,141,000 after purchasing an additional 8,624 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Down 1.5%

Shares of PSX opened at $137.63 on Wednesday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $143.25. The stock has a market cap of $55.45 billion, a PE ratio of 37.60, a price-to-earnings-growth ratio of 1.81 and a beta of 0.92. The firm’s fifty day moving average is $134.98 and its two-hundred day moving average is $128.02. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The firm had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same period last year, the firm posted $2.04 earnings per share. Research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.5%. Phillips 66’s dividend payout ratio is 131.15%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 90,486 shares of company stock valued at $12,526,311. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Cowen restated a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. UBS Group reissued a “buy” rating and issued a $160.00 price target on shares of Phillips 66 in a report on Monday, November 10th. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. BMO Capital Markets lifted their target price on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Finally, Barclays boosted their target price on shares of Phillips 66 from $132.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $146.82.

About Phillips 66

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.