Commonwealth Equity Services LLC Has $42.40 Million Holdings in Phillips 66 (NYSE:PSX)

Commonwealth Equity Services LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 318,439 shares of the oil and gas company’s stock after purchasing an additional 36,287 shares during the period. Commonwealth Equity Services LLC owned approximately 0.07% of Phillips 66 worth $42,397,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PSX. Cornerstone Planning Group LLC boosted its stake in shares of Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Phillips 66 during the 4th quarter worth $36,000. West Branch Capital LLC raised its position 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 acquiring an additional 91 shares during the last quarter. Bell Investment Advisors Inc boosted its position in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 138 shares during the last quarter. Finally, Headinvest LLC acquired a new stake in shares of Phillips 66 during the third quarter worth $51,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 0.2 %

NYSE PSX traded down $0.26 during trading on Friday, hitting $143.61. The stock had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. The company’s 50-day moving average price is $155.62 and its two-hundred day moving average price is $137.81. The company has a market capitalization of $60.88 billion, a PE ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the business earned $4.21 earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders 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 3.20%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is currently 32.31%.

Insider Activity

In related news, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PSX shares. Scotiabank raised their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Mizuho decreased their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Raymond James increased their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Citigroup began coverage on Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

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.