Bfsg LLC Acquires New Stake in Phillips 66 (NYSE:PSX)

Bfsg LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 601 shares of the oil and gas company’s stock, valued at approximately $80,000.

Several other institutional investors have also bought and sold shares of PSX. Cardinal Capital Management boosted its stake in shares of 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 worth $3,104,000 after acquiring an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of Phillips 66 by 3.6% during 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 buying an additional 82 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Phillips 66 by 1.3% during the 4th 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 in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Phillips 66 by 0.4% during the 4th 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 in the last quarter. Finally, West Branch Capital LLC lifted its stake in shares of 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 valued at $37,000 after buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of a number of research reports. Raymond James lifted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lifted 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. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Piper Sandler lifted their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, Bank of America boosted 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. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $158.00.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on Wednesday, March 20th. The stock was 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 in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,056 shares of company stock valued at $5,272,681. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $150.00 on Friday. The stock has a market cap of $64.17 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.37. 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 has a 1 year low of $89.74 and a 1 year high of $174.08. The firm has a 50-day moving average of $155.40 and a two-hundred day moving average of $136.60.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.70). Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. During the same quarter in the previous year, the firm earned $4.21 earnings per share. On average, research analysts forecast that Phillips 66 will post 13.77 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is presently 27.15%.

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.