Venture Visionary Partners LLC Raises Stock Position in Phillips 66 $PSX

Venture Visionary Partners LLC boosted its stake in Phillips 66 (NYSE:PSX) by 22.0% in the fourth quarter, HoldingsChannel reports. The firm owned 96,544 shares of the oil and gas company’s stock after acquiring an additional 17,408 shares during the period. Venture Visionary Partners LLC’s holdings in Phillips 66 were worth $12,458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PSX. Vanguard Group Inc. lifted its holdings in shares of Phillips 66 by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after buying an additional 205,480 shares during the period. State Street Corp grew its holdings in shares of Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock worth $3,043,996,000 after acquiring an additional 175,616 shares during the period. Geode Capital Management LLC increased its position in Phillips 66 by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after acquiring an additional 45,340 shares during the last quarter. Norges Bank purchased a new stake in Phillips 66 during the fourth quarter valued at $640,206,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock valued at $509,006,000 after acquiring an additional 89,621 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $179.27 on Monday. The company has a market capitalization of $71.88 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.26 and a beta of 0.68. Phillips 66 has a 1-year low of $118.00 and a 1-year high of $190.61. The firm’s 50 day simple moving average is $172.49 and its two-hundred day simple moving average is $157.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.90) earnings per share. Research analysts expect that Phillips 66 will post 17.95 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,705,826.56. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 45,629 shares of company stock valued at $8,071,540 in the last quarter. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group raised their target price on Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Barclays increased their price objective on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Scotiabank raised their price objective on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Finally, Argus upped their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.33.

About Phillips 66

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.