PUREfi Wealth LLC Invests $223,000 in Phillips 66 (NYSE:PSX)

PUREfi Wealth LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,803 shares of the oil and gas company’s stock, valued at approximately $223,000.

Several other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after acquiring an additional 639,323 shares during the period. Geode Capital Management LLC grew its stake in Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after purchasing an additional 82,758 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after purchasing an additional 4,455,220 shares in the last quarter. Northern Trust Corp lifted its stake in Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock valued at $522,834,000 after buying an additional 440,107 shares during the period. Finally, Norges Bank bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $497,648,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on PSX shares. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research note on Thursday, March 27th. Tudor Pickering downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Morgan Stanley dropped their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Finally, TD Cowen boosted their target price on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.46.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $124.65 on Wednesday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $110.89 and a 200-day moving average price of $117.33. The company has a market cap of $50.79 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last announced 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 return on equity of 4.83% and a net margin of 1.32%. The company had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter last year, the company posted $1.90 EPS. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 annualized dividend and a dividend yield of 3.85%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is currently 109.34%.

Insider Activity at Phillips 66

In other news, Director Robert W. Pease acquired 439 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

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.