Skopos Labs Inc. Takes $201,000 Position in Phillips 66 (NYSE:PSX)

Skopos Labs Inc. acquired a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,506 shares of the oil and gas company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First United Bank & Trust purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $31,000. Cornerstone Planning Group LLC increased its position in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares in the last quarter. Signature Resources Capital Management LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $33,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $36,000. Finally, Gladius Capital Management LP purchased a new stake in shares of Phillips 66 during the fourth quarter worth approximately $36,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.3 %

Shares of Phillips 66 stock traded up $0.49 during trading hours on Friday, hitting $142.68. The company’s stock had a trading volume of 1,250,654 shares, compared to its average volume of 2,284,897. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The firm has a fifty day moving average of $154.57 and a 200-day moving average of $141.45. The stock has a market cap of $60.49 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 1.94 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

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

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors 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. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.22%. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $7,051,617. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,864 shares of company stock valued at $7,567,178. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PSX shares. Raymond James boosted their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. boosted their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Piper Sandler dropped their price target on Phillips 66 from $187.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Mizuho dropped their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.21.

Phillips 66 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.