West Paces Advisors Inc. Acquires 1,043 Shares of Phillips 66 (NYSE:PSX)

West Paces Advisors Inc. grew its stake in shares of Phillips 66 (NYSE:PSX) by 31.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,343 shares of the oil and gas company’s stock after purchasing an additional 1,043 shares during the period. West Paces Advisors Inc.’s holdings in Phillips 66 were worth $578,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its stake in Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after acquiring an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC purchased a new position in Phillips 66 in the fourth quarter valued at about $10,402,000. Choate Investment Advisors bought a new position in Phillips 66 during the third quarter valued at $247,000. First Dallas Securities Inc. purchased a new stake in Phillips 66 in the third quarter worth $753,000. Finally, TIAA Trust National Association raised its stake in shares of Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after buying an additional 3,670 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 1.8 %

Shares of Phillips 66 stock traded down $2.94 during trading on Tuesday, reaching $157.88. 1,863,792 shares of the stock were exchanged, compared to its average volume of 3,039,155. 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 cap of $67.54 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 2.05 and a beta of 1.37. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The stock’s fifty day moving average is $153.64 and its 200 day moving average is $134.51.

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

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.91%. Phillips 66’s dividend payout ratio is 27.15%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James raised their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Citigroup began coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating on the stock. Wells Fargo & Company boosted their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. The Goldman Sachs Group raised their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $156.86.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 0.22% of the company’s stock.

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.