Adell Harriman & Carpenter Inc. Buys 1,028 Shares of Phillips 66 (NYSE:PSX)

Adell Harriman & Carpenter Inc. lifted its stake in Phillips 66 (NYSE:PSX) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,183 shares of the oil and gas company’s stock after acquiring an additional 1,028 shares during the period. Phillips 66 makes up about 1.1% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 28th largest holding. Adell Harriman & Carpenter Inc.’s holdings in Phillips 66 were worth $12,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its stake in Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares during the period. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 during the fourth quarter valued at $36,000. Bell Investment Advisors Inc boosted its stake in Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 138 shares during the period. West Branch Capital LLC boosted its stake in Phillips 66 by 49.5% during the fourth 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 during the period. Finally, Headinvest LLC bought a new stake in Phillips 66 during the third quarter valued at $51,000. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, 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 related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, 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. Also, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James raised their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Barclays raised their price target 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. JPMorgan Chase & Co. raised their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Piper Sandler raised their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Mizuho decreased their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Phillips 66 Stock Up 0.1 %

Shares of PSX traded up $0.13 during mid-day trading on Monday, reaching $151.54. The company had a trading volume of 2,821,901 shares, compared to its average volume of 2,974,236. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a market capitalization of $64.83 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The firm has a 50-day moving average price of $155.55 and a 200 day moving average price of $137.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

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

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.04%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 32.31%.

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.