Focus Partners Wealth Grows Stake in Phillips 66 $PSX

Focus Partners Wealth grew its holdings in Phillips 66 (NYSE:PSX) by 20.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 515,909 shares of the oil and gas company’s stock after buying an additional 88,051 shares during the quarter. Focus Partners Wealth’s holdings in Phillips 66 were worth $67,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. First National Bank of Omaha bought a new stake in shares of Phillips 66 in the 3rd quarter worth $2,357,000. TD Asset Management Inc boosted its stake in shares of Phillips 66 by 15.5% in the 3rd quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock worth $23,724,000 after buying an additional 23,364 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Phillips 66 by 18.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 963,629 shares of the oil and gas company’s stock worth $131,073,000 after buying an additional 148,129 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Phillips 66 by 5.1% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 818,025 shares of the oil and gas company’s stock worth $111,268,000 after buying an additional 39,592 shares during the last quarter. Finally, Fiera Capital Corp purchased a new position in shares of Phillips 66 in the 3rd quarter worth $5,665,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 45,629 shares of company stock worth $8,071,540. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $172.90 on Tuesday. The stock’s 50-day simple moving average is $172.42 and its 200-day simple moving average is $158.19. Phillips 66 has a 52 week low of $118.00 and a 52 week high of $190.61. The company has a market capitalization of $69.32 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 0.26 and a beta of 0.68. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.90) earnings per share. As a group, analysts expect that Phillips 66 will post 17.95 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66’s payout ratio is presently 50.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. TD Cowen raised their price target on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Barclays raised their price target on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Citigroup raised their price target on Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, The Goldman Sachs Group raised their price target on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.33.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.