Phillips 66 (NYSE:PSX) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 65.6% during the first quarter, Holdings Channel reports. The firm owned 13,558 shares of the oil and gas company’s stock after acquiring an additional 5,372 shares during the quarter. Farther Finance Advisors LLC’s holdings in Phillips 66 were worth $1,686,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in PSX. Tallon Kerry Patrick acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $336,000. Brighton Jones LLC increased its position in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the period. Entropy Technologies LP acquired a new position in Phillips 66 in the 4th quarter valued at about $761,000. Newbridge Financial Services Group Inc. acquired a new position in Phillips 66 in the 4th quarter valued at about $31,000. Finally, Savant Capital LLC increased its position in Phillips 66 by 7.4% in the 4th quarter. Savant Capital LLC now owns 14,152 shares of the oil and gas company’s stock valued at $1,612,000 after acquiring an additional 980 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased 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 in the company, valued at $465,760.35. This represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $120.92 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $108.74 and its two-hundred day moving average is $117.74. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The stock has a market capitalization of $49.27 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 4.84 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the company earned $1.90 EPS. Research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.97%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is currently 109.34%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent research reports. Tudor Pickering cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Wells Fargo & Company dropped their price target on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley dropped their price target on 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, The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target on the stock. in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $135.46.

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.