OLD National Bancorp IN Buys 1,957 Shares of Phillips 66 (NYSE:PSX)

OLD National Bancorp IN increased its stake in Phillips 66 (NYSE:PSX) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,824 shares of the oil and gas company’s stock after buying an additional 1,957 shares during the period. OLD National Bancorp IN’s holdings in Phillips 66 were worth $1,175,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Cardinal Capital Management increased its stake in shares of Phillips 66 by 0.3% during the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after purchasing an additional 77 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of Phillips 66 by 3.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 82 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Phillips 66 by 1.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after buying an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Phillips 66 by 0.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after buying an additional 90 shares during the last quarter. Finally, West Branch Capital LLC grew its holdings in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Up 1.2 %

Shares of Phillips 66 stock opened at $158.90 on Wednesday. The company’s fifty day simple moving average is $154.93 and its 200-day simple moving average is $136.31. The stock has a market capitalization of $67.98 billion, a PE ratio of 10.27, a P/E/G ratio of 1.95 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 company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. The firm had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, equities analysts anticipate that Phillips 66 will post 13.45 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.89%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 27.15%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSX. JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Citigroup began coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Piper Sandler raised their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Bank of America raised their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, The Goldman Sachs Group raised their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Insider Activity

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