Phillips 66 (NYSE:PSX) Shares Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 108.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,724 shares of the oil and gas company’s stock after buying an additional 2,460 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Phillips 66 were worth $772,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after acquiring an additional 22,278 shares during the period. Eldred Rock Partners LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at $10,402,000. First Dallas Securities Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter valued at $753,000. TIAA Trust National Association raised its stake in shares of Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after acquiring an additional 3,670 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after acquiring an additional 10,536 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were 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 approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PSX shares. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Barclays dropped their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. TD Cowen dropped their price target 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. Scotiabank lifted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Mizuho dropped their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.79.

Phillips 66 Trading Up 1.3 %

Phillips 66 stock opened at $141.17 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $142.91 and a two-hundred day moving average price of $144.83. The firm has a market capitalization of $59.85 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.34. Phillips 66 has a 52-week low of $93.40 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results 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 firm had revenue of $36.44 billion for the quarter, compared to analyst estimates 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 firm earned $4.21 earnings per share. Sell-side analysts expect that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.26%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s payout ratio is presently 35.38%.

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.