Phillips 66 (NYSE:PSX) is Advisory Resource Group’s 2nd Largest Position

Advisory Resource Group raised its stake in shares of Phillips 66 (NYSE:PSX) by 6.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 256,327 shares of the oil and gas company’s stock after purchasing an additional 16,300 shares during the quarter. Phillips 66 makes up approximately 6.4% of Advisory Resource Group’s portfolio, making the stock its 2nd largest holding. Advisory Resource Group’s holdings in Phillips 66 were worth $31,651,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PSX. J.Safra Asset Management Corp purchased a new stake in Phillips 66 in the fourth quarter worth approximately $25,000. Pacific Center for Financial Services bought a new position in shares of Phillips 66 during the 4th quarter valued at $27,000. Graney & King LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at $28,000. Wood Tarver Financial Group LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth $29,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the first quarter worth $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. Barclays increased their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Compass Point assumed coverage on shares of Phillips 66 in a report on Wednesday. They issued a “buy” rating on the stock. Cantor Fitzgerald started coverage on shares of Phillips 66 in a report on Wednesday. They set a “neutral” rating for the company. Finally, UBS Group decreased their price target on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.93.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $124.98 on Thursday. The stock has a market cap of $50.92 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The firm has a fifty day moving average price of $111.33 and a 200-day moving average price of $117.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter in the previous year, the company posted $1.90 EPS. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.20 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. Phillips 66’s dividend payout ratio is 109.34%.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by company insiders.

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.