Vicus Capital Acquires Shares of 1,611 Phillips 66 (NYSE:PSX)

Vicus Capital acquired a new stake in Phillips 66 (NYSE:PSX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,611 shares of the oil and gas company’s stock, valued at approximately $263,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $27,000. First United Bank & Trust purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $31,000. Signature Resources Capital Management LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $33,000. Bruce G. Allen Investments LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $36,000. Finally, Gladius Capital Management LP purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, 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 completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $141.17 on Friday. The stock has a market cap of $59.85 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37. Phillips 66 has a fifty-two week low of $93.40 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a fifty day moving average of $142.91 and a 200-day moving average of $144.70.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 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 business had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the previous year, the firm earned $4.21 earnings per share. Equities research analysts anticipate that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Mizuho dropped their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Bank of America lifted their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. TD Cowen lowered their target price on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, Wells Fargo & Company boosted their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $157.79.

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.