Phillips 66 (NYSE:PSX) Shares Bought by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 393,339 shares of the oil and gas company’s stock after buying an additional 17,332 shares during the period. Phillips 66 makes up about 4.1% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Recurrent Investment Advisors LLC owned about 0.10% of Phillips 66 worth $44,813,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital Investment Advisors LLC raised its stake in shares of Phillips 66 by 41.3% during the fourth quarter. Capital Investment Advisors LLC now owns 4,145 shares of the oil and gas company’s stock valued at $472,000 after purchasing an additional 1,211 shares in the last quarter. Wedmont Private Capital increased its stake in Phillips 66 by 14.1% during the 4th quarter. Wedmont Private Capital now owns 6,856 shares of the oil and gas company’s stock valued at $781,000 after buying an additional 847 shares during the period. FNY Investment Advisers LLC acquired a new position in Phillips 66 during the 4th quarter valued at about $125,000. Oak Thistle LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth about $802,000. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of Phillips 66 by 4.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,490 shares of the oil and gas company’s stock worth $625,000 after acquiring an additional 241 shares during the period. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. TD Cowen increased their price target on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group dropped their price objective on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Morgan Stanley dropped their price target on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price target on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Stock Performance

Phillips 66 stock opened at $124.35 on Thursday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The firm’s 50 day simple moving average is $111.60 and its 200-day simple moving average is $119.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $50.66 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the firm posted $1.90 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.86%. Phillips 66’s payout ratio is currently 109.34%.

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.