Baxter Bros Inc. Purchases 287 Shares of Phillips 66 (NYSE:PSX)

Baxter Bros Inc. raised its holdings in Phillips 66 (NYSE:PSX) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,437 shares of the oil and gas company’s stock after buying an additional 287 shares during the quarter. Baxter Bros Inc.’s holdings in Phillips 66 were worth $3,635,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Bogart Wealth LLC boosted its position in shares of Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp bought a new position in Phillips 66 during the fourth quarter worth about $25,000. Pacific Center for Financial Services acquired a new stake in Phillips 66 during the fourth quarter valued at approximately $27,000. Stephens Consulting LLC grew its stake in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Finally, Graney & King LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director now owns 4,091 shares of the company’s stock, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PSX. Barclays boosted their price target on Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their target price 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. UBS Group dropped their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Finally, Mizuho upped their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.62.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $114.26 on Tuesday. 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 50 day simple moving average of $109.02 and a 200 day simple moving average of $118.32. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The firm has a market cap of $46.56 billion, a P/E ratio of 23.13, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the business posted $1.90 earnings per share. Sell-side 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 was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.20%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is presently 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.