Saxon Interests Inc. Buys Shares of 3,730 Phillips 66 (NYSE:PSX)

Saxon Interests Inc. purchased a new position in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,730 shares of the oil and gas company’s stock, valued at approximately $497,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC increased its stake in Phillips 66 by 1.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after purchasing an additional 86 shares in the last quarter. Port Capital LLC raised its position in Phillips 66 by 3.6% during the second quarter. Port Capital LLC now owns 2,617 shares of the oil and gas company’s stock worth $250,000 after acquiring an additional 91 shares during the last quarter. Ausdal Financial Partners Inc. lifted its holdings in shares of Phillips 66 by 1.9% in the third quarter. Ausdal Financial Partners Inc. now owns 4,859 shares of the oil and gas company’s stock valued at $584,000 after purchasing an additional 92 shares in the last quarter. Harbour Investments Inc. grew its holdings in Phillips 66 by 3.5% during the 3rd quarter. Harbour Investments Inc. now owns 2,772 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 93 shares during the last quarter. Finally, Waldron Private Wealth LLC raised its stake in Phillips 66 by 2.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 4,788 shares of the oil and gas company’s stock valued at $575,000 after purchasing an additional 94 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 40,309 shares of company stock valued at $5,981,836 over the last 90 days. 4.57% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

PSX traded up $4.38 during trading on Friday, reaching $163.34. 3,177,289 shares of the company were exchanged, compared to its average volume of 3,275,951. 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 market cap of $69.88 billion, a P/E ratio of 10.56, a PEG ratio of 2.06 and a beta of 1.36. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $163.79. The firm has a 50 day moving average of $146.27 and a 200 day moving average of $130.34.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. The firm had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. On average, sell-side analysts forecast that Phillips 66 will post 12.85 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were paid a $1.05 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $4.20 annualized dividend and a dividend yield of 2.57%. Phillips 66’s payout ratio is 27.15%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PSX shares. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Bank of America upped their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Barclays lifted their price target on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. TD Cowen raised their target price on shares of Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Finally, Wells Fargo & Company upped their price target on shares of Phillips 66 from $163.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

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.