Crestmont Private Wealth LLC Invests $210,000 in Phillips 66 (NYSE:PSX)

Crestmont Private Wealth LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,698 shares of the oil and gas company’s stock, valued at approximately $210,000.

A number of other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC raised its holdings in Phillips 66 by 120.0% in the fourth 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 acquired a new stake in Phillips 66 in the fourth quarter valued at $25,000. Pacific Center for Financial Services acquired a new stake in Phillips 66 in the fourth quarter valued at $27,000. Stephens Consulting LLC raised its holdings in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares in the last quarter. Finally, Graney & King LLC acquired a new stake in Phillips 66 in the fourth quarter valued at $28,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank cut their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target on the stock. in a report on Thursday, March 27th. Tudor Pickering cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. UBS Group lowered 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 note on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.62.

Phillips 66 Stock Up 0.7%

Phillips 66 stock opened at $114.26 on Tuesday. The company has a 50-day simple moving average of $109.02 and a 200-day simple moving average of $118.32. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $91.01 and a one year high of $150.12.

Phillips 66 (NYSE:PSX) last released its quarterly 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 for the quarter, compared to the consensus estimate 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 prior year, the company posted $1.90 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.20%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is currently 109.34%.

Insider Transactions at Phillips 66

In other news, Director Robert W. Pease purchased 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, the director now owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Phillips 66 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.