Bessemer Group Inc. Increases Stock Position in Phillips 66 (NYSE:PSX)

Bessemer Group Inc. raised its stake in shares of Phillips 66 (NYSE:PSX) by 22.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,212 shares of the oil and gas company’s stock after purchasing an additional 9,954 shares during the quarter. Bessemer Group Inc.’s holdings in Phillips 66 were worth $8,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Keener Financial Planning LLC purchased a new position in Phillips 66 in the first quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Phillips 66 in the 4th quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at about $28,000. First United Bank & Trust purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $31,000. Finally, Ruedi Wealth Management Inc. raised its holdings in shares of Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.8 %

Shares of PSX stock traded up $1.10 during trading hours on Wednesday, reaching $138.17. The company’s stock had a trading volume of 1,856,702 shares, compared to its average volume of 2,681,200. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. Phillips 66 has a one year low of $105.56 and a one year high of $174.08. The stock has a market capitalization of $58.58 billion, a P/E ratio of 10.63, a P/E/G ratio of 2.32 and a beta of 1.34. The firm’s fifty day simple moving average is $139.47 and its 200 day simple moving average is $145.40.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter last year, the company posted $4.21 earnings per share. Equities research analysts expect that Phillips 66 will post 10.06 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PSX. Argus reiterated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Barclays decreased their target price on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Raymond James cut their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $158.23.

Insider Activity

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The shares were 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

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.