West Paces Advisors Inc. Buys 175 Shares of Phillips 66 (NYSE:PSX)

West Paces Advisors Inc. raised its holdings in Phillips 66 (NYSE:PSX) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,518 shares of the oil and gas company’s stock after purchasing an additional 175 shares during the quarter. West Paces Advisors Inc.’s holdings in Phillips 66 were worth $738,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Madison Park Capital Advisors LLC increased its stake in Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after acquiring an additional 68 shares during the last quarter. Warwick Investment Management Inc. increased its stake in Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 73 shares during the last quarter. HCR Wealth Advisors increased its stake in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after acquiring an additional 74 shares during the last quarter. Nvwm LLC increased its stake in Phillips 66 by 0.9% in the fourth quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock valued at $1,103,000 after acquiring an additional 75 shares during the last quarter. Finally, Cardinal Capital Management increased its stake in Phillips 66 by 0.3% in the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded down $0.46 during midday trading on Wednesday, reaching $139.78. The company’s stock had a trading volume of 1,517,553 shares, compared to its average volume of 2,741,781. The firm has a market capitalization of $59.26 billion, a PE ratio of 10.76, a P/E/G ratio of 2.08 and a beta of 1.37. Phillips 66 has a twelve month low of $91.18 and a twelve month high of $174.08. The stock has a fifty day moving average of $143.81 and a 200 day moving average of $144.53. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the previous year, the company earned $4.21 EPS. On average, equities analysts expect that Phillips 66 will post 11.22 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.29%. Phillips 66’s dividend payout ratio is 35.38%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several analyst reports. TD Cowen cut their price target on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Mizuho decreased their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. lifted their target price 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. Finally, Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $157.79.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

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.