Phillips 66 (NYSE:PSX) Shares Acquired by Segment Wealth Management LLC

Segment Wealth Management LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 30.9% during the 1st quarter, HoldingsChannel reports. The fund owned 13,700 shares of the oil and gas company’s stock after purchasing an additional 3,233 shares during the period. Segment Wealth Management LLC’s holdings in Phillips 66 were worth $1,692,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Phillips 66 by 283.5% in the 4th 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 during the period. Norges Bank purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $497,648,000. Raymond James Financial Inc. purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $168,790,000. Capitolis Liquid Global Markets LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $142,185,000. Finally, GAMMA Investing LLC lifted its position in shares of Phillips 66 by 14,119.5% during the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company’s stock valued at $146,893,000 after buying an additional 1,181,240 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Phillips 66 Trading Up 0.4%

PSX opened at $124.98 on Friday. The firm has a market capitalization of $50.92 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The company’s 50 day simple moving average is $111.89 and its two-hundred day simple moving average is $117.30. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter in the previous year, the business posted $1.90 EPS. Analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is currently 109.34%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSX. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. Evercore ISI began coverage on shares of Phillips 66 in a research report on Wednesday. They issued an “outperform” rating and a $130.00 target price on the stock. Compass Point began coverage on shares of Phillips 66 in a research note on Wednesday. They set a “buy” rating for the company. Cantor Fitzgerald started coverage on shares of Phillips 66 in a research note on Wednesday. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company lowered their price objective on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $133.93.

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.