1,649 Shares in Phillips 66 (NYSE:PSX) Acquired by BNC Wealth Management LLC

BNC Wealth Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,649 shares of the oil and gas company’s stock, valued at approximately $204,000.

Other large investors have also made changes to their positions in the company. 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 worth $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $25,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $27,000. Graney & King LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $28,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $122.20 on Friday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company has a fifty day moving average price of $109.84 and a 200-day moving average price of $117.57. The company has a market capitalization of $49.79 billion, a P/E ratio of 24.74, a PEG ratio of 4.84 and a beta of 1.02. 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 (NYSE:PSX) last announced its 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). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the prior year, the business earned $1.90 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Monday, May 19th. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is currently 109.34%.

Wall Street Analyst Weigh In

PSX has been the subject of several research reports. Tudor Pickering downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Mizuho increased their price objective 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. Scotiabank dropped their price objective on shares of 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. TD Cowen increased their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Barclays increased their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.46.

Insider Buying and Selling

In related news, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction on Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by insiders.

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.