Texas Capital Bank Wealth Management Services Inc Takes $571,000 Position in Phillips 66 $PSX

Texas Capital Bank Wealth Management Services Inc acquired a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,423 shares of the oil and gas company’s stock, valued at approximately $571,000.

Several other large investors also recently modified their holdings of PSX. Brighton Jones LLC grew its stake in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares during the period. Woodline Partners LP grew its stake in shares of Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after purchasing an additional 10,089 shares during the period. Sei Investments Co. grew its stake in shares of Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after purchasing an additional 34,698 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after purchasing an additional 28,988 shares during the period. Finally, Glenview Trust co grew its stake in shares of Phillips 66 by 2.6% in the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after purchasing an additional 229 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions at Phillips 66

In other news, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the transaction, the director directly owned 8,701 shares in the company, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 114,029 shares of company stock worth $19,641,455 in the last quarter. 0.40% of the stock is owned by corporate insiders.

Phillips 66 Stock Up 1.3%

Shares of PSX opened at $176.88 on Friday. The company has a market capitalization of $70.92 billion, a P/E ratio of 17.43, a PEG ratio of 0.26 and a beta of 0.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a one year low of $111.19 and a one year high of $190.61. The business’s 50 day simple moving average is $172.32 and its 200-day simple moving average is $154.51.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the previous year, the business earned ($0.90) EPS. Phillips 66’s revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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

Wall Street Analysts Forecast Growth

PSX has been the topic of several analyst reports. Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Raymond James Financial boosted their target price on Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. TD Cowen boosted their target price on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Barclays boosted their target price on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Finally, Wall Street Zen downgraded Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.28.

Phillips 66 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.