Cooper Financial Group Purchases 164 Shares of Phillips 66 (NYSE:PSX)

Cooper Financial Group increased its position in shares of Phillips 66 (NYSE:PSX) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,745 shares of the oil and gas company’s stock after acquiring an additional 164 shares during the quarter. Cooper Financial Group’s holdings in Phillips 66 were worth $285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Douglas Lane & Associates LLC bought a new position in Phillips 66 in the first quarter valued at approximately $320,000. City State Bank lifted its stake in Phillips 66 by 16.2% in the first quarter. City State Bank now owns 977 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 136 shares in the last quarter. Sanders Morris Harris LLC bought a new position in Phillips 66 in the first quarter valued at approximately $214,000. MJP Associates Inc. ADV acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $247,000. Finally, Eldred Rock Partners LLC raised its holdings in shares of Phillips 66 by 1.0% in the first quarter. Eldred Rock Partners LLC now owns 78,909 shares of the oil and gas company’s stock valued at $12,889,000 after purchasing an additional 781 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX traded up $0.13 during trading on Friday, hitting $138.09. 6,463,625 shares of the company’s stock were exchanged, compared to its average volume of 2,005,362. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The company has a market cap of $58.54 billion, a PE ratio of 10.62, a P/E/G ratio of 1.95 and a beta of 1.37. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The stock’s 50 day moving average price is $144.60 and its two-hundred day moving average price is $144.20.

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 analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate 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 last year, the business earned $4.21 EPS. Research analysts expect that Phillips 66 will post 11.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a $1.15 dividend. The ex-dividend date was Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.33%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s 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 completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PSX. Barclays lowered their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. The Goldman Sachs Group lifted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James lowered their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.79.

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.