Bison Wealth LLC Has $1.09 Million Holdings in Phillips 66 (NYSE:PSX)

Bison Wealth LLC lifted its stake in Phillips 66 (NYSE:PSX) by 33.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,192 shares of the oil and gas company’s stock after buying an additional 2,050 shares during the period. Bison Wealth LLC’s holdings in Phillips 66 were worth $1,091,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Dakota Wealth Management raised its holdings in shares of Phillips 66 by 112.8% in the 4th quarter. Dakota Wealth Management now owns 118,626 shares of the oil and gas company’s stock worth $15,794,000 after buying an additional 62,891 shares in the last quarter. Cullen Investment Group LTD. acquired a new stake in Phillips 66 during the 4th quarter valued at $230,000. Waldron Private Wealth LLC increased its holdings in Phillips 66 by 2.5% during the 4th quarter. Waldron Private Wealth LLC now owns 4,910 shares of the oil and gas company’s stock valued at $653,000 after purchasing an additional 122 shares in the last quarter. Strs Ohio increased its holdings in Phillips 66 by 1,067.7% during the 4th quarter. Strs Ohio now owns 157,096 shares of the oil and gas company’s stock valued at $20,915,000 after purchasing an additional 143,643 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Phillips 66 during the 4th quarter valued at $200,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSX. Citigroup began coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating for the company. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Bank of America increased their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. increased their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.86.

Phillips 66 Stock Down 1.0 %

NYSE:PSX opened at $160.82 on Tuesday. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $68.80 billion, a P/E ratio of 10.40, a P/E/G ratio of 2.05 and a beta of 1.37. The stock’s fifty day simple moving average is $153.64 and its 200-day simple moving average is $134.51.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The business had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Equities research analysts expect that Phillips 66 will post 13.2 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is presently 27.15%.

About Phillips 66

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.