111 Capital Invests $474,000 in Phillips 66 (NYSE:PSX)

111 Capital bought a new position in Phillips 66 (NYSE:PSX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,159 shares of the oil and gas company’s stock, valued at approximately $474,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Phillips 66 by 7.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 132,109 shares of the oil and gas company’s stock worth $15,051,000 after acquiring an additional 8,821 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $205,000. Old North State Trust LLC grew its position in Phillips 66 by 125.6% during the fourth quarter. Old North State Trust LLC now owns 3,454 shares of the oil and gas company’s stock valued at $394,000 after purchasing an additional 1,923 shares in the last quarter. Mattson Financial Services LLC acquired a new position in Phillips 66 in the 4th quarter valued at approximately $34,000. Finally, Copia Wealth Management purchased a new stake in Phillips 66 in the 4th quarter worth approximately $36,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Raymond James cut their price objective on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Scotiabank cut their price target on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. Barclays increased their price objective on Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Finally, Mizuho lifted their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $137.86.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director now owns 4,091 shares of the company’s stock, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $114.80 on Friday. 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 firm has a market cap of $46.77 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The stock’s 50-day moving average is $109.50 and its 200-day moving average is $118.69. Phillips 66 has a one year low of $91.01 and a one year high of $150.12.

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

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 4.18%. Phillips 66’s payout ratio is currently 109.34%.

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.