Islay Capital Management LLC Buys 941 Shares of Phillips 66 (NYSE:PSX)

Islay Capital Management LLC raised its stake in Phillips 66 (NYSE:PSX) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,722 shares of the oil and gas company’s stock after buying an additional 941 shares during the period. Phillips 66 comprises about 1.2% of Islay Capital Management LLC’s portfolio, making the stock its 20th biggest position. Islay Capital Management LLC’s holdings in Phillips 66 were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cornerstone Planning Group LLC boosted its position in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in Phillips 66 in the fourth quarter worth approximately $36,000. West Branch Capital LLC grew its stake in Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the period. Bell Investment Advisors Inc grew its stake in Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the period. Finally, Headinvest LLC bought a new stake in shares of Phillips 66 during the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

NYSE PSX traded down $6.91 during trading on Tuesday, hitting $144.63. 1,665,028 shares of the company’s stock traded hands, compared to its average volume of 2,956,850. The stock has a market capitalization of $61.88 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The business has a 50 day moving average of $155.70 and a 200-day moving average of $137.52. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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). Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the business posted $4.21 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 13.77 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed 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 3.18%. This is a positive change 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 presently 32.31%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Barclays decreased their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday. Wells Fargo & Company increased their price objective on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Mizuho dropped their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

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.