Infrastructure Capital Advisors LLC Buys 32,500 Shares of Phillips 66 $PSX

Infrastructure Capital Advisors LLC grew its stake in Phillips 66 (NYSE:PSX) by 291.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,667 shares of the oil and gas company’s stock after acquiring an additional 32,500 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Phillips 66 were worth $5,635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Interval Partners LP bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $1,408,000. Investment Management Corp of Ontario increased its stake in shares of Phillips 66 by 46.0% in the 4th quarter. Investment Management Corp of Ontario now owns 34,330 shares of the oil and gas company’s stock valued at $4,430,000 after acquiring an additional 10,817 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Phillips 66 by 3.7% in the 4th quarter. Janus Henderson Group PLC now owns 22,853 shares of the oil and gas company’s stock valued at $2,950,000 after acquiring an additional 816 shares during the last quarter. Evolve Private Wealth LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $1,271,000. Finally, Empyrean Capital Partners LP increased its stake in shares of Phillips 66 by 22.1% in the 4th quarter. Empyrean Capital Partners LP now owns 264,800 shares of the oil and gas company’s stock valued at $34,170,000 after acquiring an additional 48,000 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. The trade was a 1.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This trade represents a 0.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 45,629 shares of company stock valued at $8,071,540. 0.40% of the stock is owned by company insiders.

Phillips 66 Price Performance

NYSE PSX opened at $167.08 on Thursday. The business has a 50 day simple moving average of $172.14 and a 200 day simple moving average of $158.68. Phillips 66 has a 52-week low of $118.00 and a 52-week high of $190.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market cap of $66.99 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.25 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the prior year, the business earned ($0.90) EPS. Phillips 66’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts anticipate that Phillips 66 will post 18.12 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PSX shares. Barclays upped their price target on Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Scotiabank upped their price target on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Guggenheim raised Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group increased their target price on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Finally, Piper Sandler increased their target price on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $192.33.

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.