HighTower Advisors LLC Raises Stock Holdings in Phillips 66 $PSX

HighTower Advisors LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 363,528 shares of the oil and gas company’s stock after purchasing an additional 4,463 shares during the quarter. HighTower Advisors LLC owned 0.09% of Phillips 66 worth $49,447,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Evolution Wealth Management Inc. purchased a new stake in shares of Phillips 66 in the 2nd quarter valued at $25,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $32,000. Winnow Wealth LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at $36,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $38,000. Finally, Operose Advisors LLC boosted its holdings in Phillips 66 by 260.4% during the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock worth $41,000 after buying an additional 250 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Raymond James Financial lifted their price target on Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Mizuho upped their price target on Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $158.72.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 25,500 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,959,593.52. This trade represents a 30.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the sale, the executive vice president directly owned 25,799 shares in the company, valued at $3,869,850. This represents a 14.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 34,288 shares of company stock worth $4,867,250 in the last quarter. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 1.0%

Shares of NYSE PSX opened at $158.11 on Wednesday. The company has a 50 day simple moving average of $141.17 and a 200-day simple moving average of $135.45. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The company has a market capitalization of $63.71 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.56 and a beta of 0.90. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $163.79.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same quarter in the prior year, the company posted ($0.15) EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a $1.27 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 3.2%. Phillips 66’s dividend payout ratio is presently 44.36%.

Phillips 66 Company 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.