Phillips 66 (NYSE:PSX) Shares Purchased by TBH Global Asset Management LLC

TBH Global Asset Management LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,632 shares of the oil and gas company’s stock after purchasing an additional 317 shares during the period. TBH Global Asset Management LLC’s holdings in Phillips 66 were worth $2,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Phillips 66 during the fourth quarter valued at $559,435,000. Boston Partners boosted its holdings in shares of Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after acquiring an additional 3,494,878 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Phillips 66 during the fourth quarter valued at $254,336,000. Acadian Asset Management LLC boosted its holdings in shares of Phillips 66 by 1,038.3% during the third quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after acquiring an additional 430,723 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Phillips 66 by 53.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after acquiring an additional 421,714 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. Scotiabank upped their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler reduced their price objective on shares of Phillips 66 from $187.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. JPMorgan Chase & Co. boosted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Raymond James boosted their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Bank of America boosted their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.21.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders sold 50,864 shares of company stock worth $7,567,178 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $0.49 during trading hours on Friday, reaching $142.68. The stock had a trading volume of 1,241,523 shares, compared to its average volume of 2,806,904. The business’s fifty day moving average is $154.89 and its two-hundred day moving average is $141.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market cap of $60.49 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.94 and a beta of 1.41. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the previous year, the company posted $4.21 earnings per share. As a group, research analysts expect that Phillips 66 will post 12.26 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

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.