QRG Capital Management Inc. Increases Holdings in Phillips 66 $PSX

QRG Capital Management Inc. increased its stake in Phillips 66 (NYSE:PSX) by 50.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,164 shares of the oil and gas company’s stock after buying an additional 6,443 shares during the quarter. QRG Capital Management Inc.’s holdings in Phillips 66 were worth $2,473,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 in the fourth quarter valued at $26,000. Accordant Advisory Group Inc grew its position in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at $27,000. Stephens Consulting LLC grew its position in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in shares of Phillips 66 in the fourth quarter valued at $35,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Phillips 66

In other news, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This represents a 16.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 91,529 shares of company stock valued at $15,740,519 over the last 90 days. Insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $168.35 on Friday. Phillips 66 has a 52 week low of $106.34 and a 52 week high of $190.61. The business has a 50-day simple moving average of $168.80 and a 200 day simple moving average of $150.20. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $67.50 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last posted 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 during the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the previous year, the business earned ($0.90) earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast that Phillips 66 will post 17.39 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Raymond James Financial lifted their price target on Phillips 66 from $205.00 to $215.00 in a research report on Thursday, April 30th. Wells Fargo & Company lifted their price target on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. lifted their price target on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price target on shares of Phillips 66 in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.50.

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.