Phillips 66 (NYSE:PSX) Shares Purchased by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,778 shares of the oil and gas company’s stock after acquiring an additional 260 shares during the period. Osborne Partners Capital Management LLC’s holdings in Phillips 66 were worth $8,246,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Tallon Kerry Patrick acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $336,000. Brighton Jones LLC grew its holdings 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 buying an additional 7,214 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Phillips 66 by 1.2% in the 4th quarter. CIBC Asset Management Inc now owns 72,684 shares of the oil and gas company’s stock valued at $8,281,000 after buying an additional 851 shares in the last quarter. Empower Advisory Group LLC increased its stake in shares of Phillips 66 by 11.3% in the 4th quarter. Empower Advisory Group LLC now owns 2,742 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 279 shares during the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of Phillips 66 by 2.0% during the 4th quarter. D.A. Davidson & CO. now owns 63,198 shares of the oil and gas company’s stock worth $7,200,000 after acquiring an additional 1,255 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 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, for a total transaction of $49,980.15. Following the acquisition, the director now directly 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.4%

Shares of NYSE PSX opened at $124.98 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $50.92 billion, a PE ratio of 28.47, a PEG ratio of 1.94 and a beta of 1.02. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The stock has a fifty day simple moving average of $111.89 and a 200-day simple moving average of $117.30.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 firm had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter last year, the business earned $1.90 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed 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 was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is 109.34%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PSX shares. 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 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 for the company. in a research note on Thursday, March 27th. Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a research report on Wednesday. They set a “neutral” rating on the stock. Wells Fargo & Company decreased 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. Finally, Evercore ISI assumed coverage on Phillips 66 in a research report on Wednesday. They issued an “outperform” rating and a $130.00 price objective for the company. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.93.

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.