Cookson Peirce & Co. Inc. Has $28.16 Million Holdings in Phillips 66 (NYSE:PSX)

Cookson Peirce & Co. Inc. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 2,324.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 211,478 shares of the oil and gas company’s stock after acquiring an additional 202,754 shares during the quarter. Phillips 66 accounts for approximately 1.7% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its 17th largest position. Cookson Peirce & Co. Inc.’s holdings in Phillips 66 were worth $28,156,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its position in Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after buying an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC acquired a new position in Phillips 66 during the fourth quarter worth approximately $10,402,000. Choate Investment Advisors acquired a new position in Phillips 66 during the third quarter worth approximately $247,000. First Dallas Securities Inc. acquired a new position in Phillips 66 during the third quarter worth approximately $753,000. Finally, TIAA Trust National Association boosted its holdings in shares of Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after acquiring an additional 3,670 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 1.8 %

PSX traded down $2.88 during trading on Tuesday, reaching $157.94. 795,562 shares of the stock traded hands, compared to its average volume of 3,023,973. 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 stock has a market capitalization of $67.57 billion, a PE ratio of 10.26, a P/E/G ratio of 2.05 and a beta of 1.37. The stock’s 50-day moving average is $153.64 and its 200 day moving average is $134.51. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly 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. The business had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Equities analysts anticipate that Phillips 66 will post 13.2 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 2.91%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 27.15%.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research analyst reports. Bank of America boosted their price objective on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Piper Sandler boosted their price objective on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Citigroup began coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating for the company. Raymond James boosted their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Barclays upped their target price on Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.86.

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.