Trueblood Wealth Management LLC Makes New $290,000 Investment in Phillips 66 (NYSE:PSX)

Trueblood Wealth Management LLC acquired a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,181 shares of the oil and gas company’s stock, valued at approximately $290,000.

Other large investors have also recently bought and sold shares of the company. First Capital Advisors Group LLC. bought a new stake in shares of Phillips 66 during the 2nd quarter worth $25,000. Cornerstone Planning Group LLC boosted its position in Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares in the last quarter. Worth Asset Management LLC acquired a new position in shares of Phillips 66 during the first quarter worth $32,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $36,000. Finally, Bell Investment Advisors Inc boosted its position in Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $4.38 during mid-day trading on Thursday, reaching $163.34. 3,165,610 shares of the company were exchanged, compared to its average volume of 3,183,974. The company’s 50 day moving average price is $145.66 and its 200 day moving average price is $130.14. The stock has a market capitalization of $69.88 billion, a PE ratio of 10.28, a PEG ratio of 2.08 and a beta of 1.36. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $163.79. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Sell-side analysts forecast that Phillips 66 will post 12.55 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were paid a $1.05 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.57%. Phillips 66’s dividend payout ratio is presently 27.15%.

Insider Activity

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders sold 40,309 shares of company stock valued at $5,981,836 over the last three months. Insiders own 4.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PSX shares. Raymond James lifted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Bank of America raised their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Mizuho increased their price objective on Phillips 66 from $135.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Citigroup assumed coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company boosted their target price on Phillips 66 from $163.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $148.69.

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.