Syon Capital LLC Boosts Stock Holdings in Phillips 66 (NYSE:PSX)

Syon Capital LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 7.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,401 shares of the oil and gas company’s stock after acquiring an additional 248 shares during the quarter. Syon Capital LLC’s holdings in Phillips 66 were worth $453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its holdings in Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth $36,000. West Branch Capital LLC boosted its position in Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. Bell Investment Advisors Inc grew its stake in Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares during the last quarter. Finally, Headinvest LLC bought a new position in Phillips 66 in the third quarter worth about $51,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 3.6 %

Phillips 66 stock opened at $151.52 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The stock has a 50-day moving average price of $155.55 and a 200 day moving average price of $136.88. The company has a market capitalization of $64.82 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.70). Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. During the same period last year, the firm posted $4.21 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 27.15%.

Insiders Place Their Bets

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The shares were 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 of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PSX shares. Scotiabank raised their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Mizuho lowered their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. The Goldman Sachs Group upped their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Piper Sandler boosted their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Company 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.