Focus Partners Advisor Solutions LLC Buys 19,288 Shares of Phillips 66 $PSX

Focus Partners Advisor Solutions LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 164.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 31,009 shares of the oil and gas company’s stock after buying an additional 19,288 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Phillips 66 were worth $4,282,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PSX. Elliott Investment Management L.P. increased its position in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares during the period. Oppenheimer & Co. Inc. grew its stake in Phillips 66 by 57.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock valued at $7,734,000 after acquiring an additional 20,742 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Phillips 66 by 5.0% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock valued at $28,523,000 after acquiring an additional 10,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Phillips 66 by 3.9% during the 2nd quarter. California Public Employees Retirement System now owns 696,577 shares of the oil and gas company’s stock worth $83,102,000 after acquiring an additional 26,238 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.4%

Shares of NYSE:PSX opened at $159.50 on Wednesday. The firm has a market capitalization of $63.92 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.56 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $163.79. The firm has a fifty day moving average of $145.28 and a 200 day moving average of $137.89.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The firm had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the previous year, the company posted ($0.15) earnings per share. As a group, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be paid a $1.27 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, February 23rd. Phillips 66’s payout ratio is currently 46.95%.

Insider Buying and Selling

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the transaction, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president directly owned 25,799 shares in the company, valued at $3,869,850. This trade represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,288 shares of company stock worth $2,496,230 over the last quarter. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. UBS Group reiterated a “buy” rating and issued a $172.00 price objective on shares of Phillips 66 in a research report on Friday, February 6th. BMO Capital Markets restated an “outperform” rating and set a $170.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Citigroup upped their target price on Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. lowered their price target on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of “Hold” and an average target price of $160.11.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.