1,251 Shares in Phillips 66 (NYSE:PSX) Acquired by Occidental Asset Management LLC

Occidental Asset Management LLC acquired a new position in Phillips 66 (NYSE:PSX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,251 shares of the oil and gas company’s stock, valued at approximately $204,000.

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

Phillips 66 Stock Up 1.3 %

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

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the business posted $4.21 earnings per share. Analysts predict that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a dividend of $1.15 per share. The ex-dividend date was Friday, May 17th. 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%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $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.

Analyst Ratings Changes

Several brokerages have commented on PSX. Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Mizuho lowered their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Piper Sandler lowered their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. TD Cowen lowered their price objective on shares of 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, StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $157.79.

Phillips 66 Company 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.