BTC Capital Management Inc. Invests $3.02 Million in Phillips 66 $PSX

BTC Capital Management Inc. purchased a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,457 shares of the oil and gas company’s stock, valued at approximately $3,024,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PSX. Board of the Pension Protection Fund acquired a new stake in Phillips 66 during the fourth quarter worth approximately $26,000. Evolution Wealth Management Inc. bought a new stake in shares of Phillips 66 during the 2nd quarter valued at $25,000. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 67.7% during the 4th 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 in the last quarter. Winnow Wealth LLC bought a new position in shares of Phillips 66 in the third quarter worth $36,000. Finally, Wealth Watch Advisors INC acquired a new position in Phillips 66 in the third quarter valued at about $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Morgan Stanley lifted their price objective on shares of Phillips 66 from $140.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. UBS Group reaffirmed a “buy” rating and issued a $172.00 target price on shares of Phillips 66 in a report on Friday, February 6th. The Goldman Sachs Group boosted their price target on Phillips 66 from $168.00 to $186.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Finally, Argus raised their price objective on Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.11.

Insider Activity

In related news, EVP Don Baldridge sold 7,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 84,688 shares of company stock valued at $14,066,145. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Down 1.5%

Shares of PSX opened at $182.08 on Wednesday. The stock has a market capitalization of $72.97 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.33 and a beta of 0.86. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $190.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. The stock has a fifty day moving average of $161.04 and a 200-day moving average of $144.19.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.15 by $0.32. The firm had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same period last year, the company earned ($0.15) earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a $1.27 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date was Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s dividend payout ratio is currently 46.95%.

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.