Allspring Global Investments Holdings LLC Purchases 42,454 Shares of Phillips 66 $PSX

Allspring Global Investments Holdings LLC increased its position in Phillips 66 (NYSE:PSX) by 30.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,468 shares of the oil and gas company’s stock after buying an additional 42,454 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Phillips 66 were worth $31,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PSX. Accordant Advisory Group Inc boosted its position in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares during the period. Eagle Bay Advisors LLC bought a new position in Phillips 66 during the 4th quarter worth approximately $27,000. NFSG Corp increased its stake in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. SWAN Capital LLC increased its stake in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares during the period. Finally, Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 90 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $206.96 on Monday. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $207.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company’s 50-day moving average is $179.03 and its 200 day moving average is $165.75. The stock has a market capitalization of $82.97 billion, a P/E ratio of 20.39, a P/E/G ratio of 0.27 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period last year, the business posted ($0.90) earnings per share. Phillips 66’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Phillips 66 will post 19.84 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.5%. Phillips 66’s dividend payout ratio is 50.05%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. The trade was a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,021 shares of company stock valued at $7,195,257 in the last three months. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Raymond James Financial increased their price target on shares of Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Argus boosted their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group increased their target price on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Finally, Scotiabank raised their target price on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $196.06.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.