Gradient Investments LLC Acquires 1,993 Shares of Phillips 66 (NYSE:PSX)

Gradient Investments LLC boosted its holdings in Phillips 66 (NYSE:PSX – Get Rating) by 25.8% in the 4th quarter, HoldingsChannel reports. The firm owned 9,720 shares of the oil and gas company’s stock after purchasing an additional 1,993 shares during the quarter. Gradient Investments LLC’s holdings in Phillips 66 were worth $1,012,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hallmark Capital Management Inc. lifted its position in shares of Phillips 66 by 62.5% in the third quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock worth $26,000 after buying an additional 125 shares in the last quarter. Worth Asset Management LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $32,000. Horan Securities Inc. raised its holdings in shares of Phillips 66 by 210.6% during the 3rd quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 238 shares in the last quarter. Align Wealth Management LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $28,000. Finally, Core Alternative Capital grew its holdings in shares of Phillips 66 by 218.3% in the third quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 251 shares in the last quarter. 70.76% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 0.3 %

NYSE:PSX opened at $94.72 on Friday. The company has a market cap of $43.94 billion, a price-to-earnings ratio of 4.13, a price-to-earnings-growth ratio of 0.32 and a beta of 1.37. Phillips 66 has a twelve month low of $74.02 and a twelve month high of $113.53. The company has a current ratio of 1.38, a quick ratio of 1.17 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $102.53 and a 200-day simple moving average of $99.45.

Phillips 66 (NYSE:PSX – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.35). The company had revenue of $40.91 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same period last year, the firm earned $2.94 earnings per share. Analysts anticipate that Phillips 66 will post 15.68 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 21st were issued a dividend of $1.05 per share. This is an increase from Phillips 66’s previous quarterly dividend of $0.97. This represents a $4.20 annualized dividend and a yield of 4.43%. The ex-dividend date was Friday, February 17th. Phillips 66’s dividend payout ratio (DPR) is presently 18.30%.

Insiders Place Their Bets

In other news, Director Gregory Hayes purchased 10,250 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were acquired at an average price of $97.75 per share, with a total value of $1,001,937.50. Following the transaction, the director now owns 14,299 shares of the company’s stock, valued at $1,397,727.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Mizuho decreased their price target on shares of Phillips 66 from $121.00 to $120.00 in a research note on Friday, March 10th. Morgan Stanley upped their target price on shares of Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, January 20th. Royal Bank of Canada lifted their price target on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. UBS Group initiated coverage on Phillips 66 in a research note on Wednesday, March 8th. They set a “buy” rating and a $139.00 price objective on the stock. Finally, Raymond James raised their price objective on Phillips 66 from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.27.

About Phillips 66

(Get Rating)

Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.