Legacy Capital Wealth Partners LLC Grows Stake in Phillips 66 (NYSE:PSX)

Legacy Capital Wealth Partners LLC lifted its stake in Phillips 66 (NYSE:PSX) by 19.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,258 shares of the oil and gas company’s stock after purchasing an additional 364 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Phillips 66 were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cardinal Capital Management grew its holdings in Phillips 66 by 0.3% during the 4th 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 during the last quarter. Aaron Wealth Advisors LLC grew its position in Phillips 66 by 3.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after acquiring an additional 82 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in Phillips 66 by 1.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock worth $865,000 after purchasing an additional 86 shares during the period. Stratos Wealth Partners LTD. lifted its position 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 worth $2,958,000 after purchasing an additional 90 shares during the last quarter. Finally, West Branch Capital LLC grew its holdings in Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PSX. Scotiabank upped their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Barclays increased their target price on Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Mizuho reduced their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Stock Up 0.1 %

Shares of PSX opened at $151.52 on Tuesday. The stock’s 50-day moving average price is $155.70 and its 200-day moving average price is $137.52. 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 company has a market capitalization of $64.82 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.83 and a beta of 1.37. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same period in the previous year, the business earned $4.21 EPS. On average, sell-side analysts predict that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The firm 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. 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 3.04%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 32.31%.

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 transaction of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s 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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

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.