Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $401,000 Holdings in Phillips 66 (NYSE:PSX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its stake in shares of Phillips 66 (NYSE:PSX) by 12.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,012 shares of the oil and gas company’s stock after selling 416 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Phillips 66 were worth $401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp lifted its stake in shares of Phillips 66 by 2.0% in the third quarter. Mackenzie Financial Corp now owns 40,454 shares of the oil and gas company’s stock worth $4,678,000 after buying an additional 810 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Phillips 66 by 10.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,428 shares of the oil and gas company’s stock valued at $16,031,000 after acquiring an additional 12,181 shares during the period. Advisor Partners II LLC grew its position in shares of Phillips 66 by 4.9% in the third quarter. Advisor Partners II LLC now owns 20,331 shares of the oil and gas company’s stock valued at $2,443,000 after purchasing an additional 956 shares during the last quarter. Keel Point LLC bought a new position in shares of Phillips 66 in the third quarter worth about $201,000. Finally, Graypoint LLC bought a new stake in Phillips 66 during the 3rd quarter valued at approximately $347,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease purchased 682 shares of the business’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 transaction, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on 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 $1,035,242.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Pease bought 682 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays cut their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Piper Sandler boosted their price objective 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. Raymond James increased their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Citigroup began coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Price Performance

Phillips 66 stock opened at $146.94 on Thursday. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The firm has a market cap of $62.30 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The business’s fifty day moving average is $155.48 and its two-hundred day moving average is $138.78.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period last year, the business posted $4.21 earnings per share. Equities research analysts forecast that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s payout ratio is 32.31%.

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.