Rockline Wealth Management LLC Acquires 1,002 Shares of Phillips 66 (NYSE:PSX)

Rockline Wealth Management LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,466 shares of the oil and gas company’s stock after buying an additional 1,002 shares during the quarter. Rockline Wealth Management LLC’s holdings in Phillips 66 were worth $2,898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in shares of Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after buying an additional 4,515 shares during the last quarter. Cohen & Steers Inc. lifted its position in shares of Phillips 66 by 40.3% during the 4th quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company’s stock worth $10,443,000 after buying an additional 26,318 shares during the last quarter. American Assets Investment Management LLC lifted its position in shares of Phillips 66 by 2.3% during the 4th quarter. American Assets Investment Management LLC now owns 130,800 shares of the oil and gas company’s stock worth $14,902,000 after buying an additional 3,000 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Phillips 66 during the 4th quarter worth $168,790,000. Finally, Bank OZK lifted its position in shares of Phillips 66 by 30.2% during the 4th quarter. Bank OZK now owns 10,855 shares of the oil and gas company’s stock worth $1,237,000 after buying an additional 2,521 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average price 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian Mandell sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president now directly owns 56,838 shares of the company’s stock, valued at $7,104,750. This represents a 14.71% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PSX shares. Compass Point started coverage on Phillips 66 in a research report on Wednesday. They set a “buy” rating for the company. Evercore ISI initiated coverage on Phillips 66 in a research report on Wednesday. They issued an “outperform” rating and a $130.00 target price for the company. Wells Fargo & Company dropped their target price on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, June 11th. JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a research report on Wednesday. Finally, Morgan Stanley dropped their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.93.

Phillips 66 Price Performance

Shares of PSX opened at $124.87 on Friday. 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. The company has a market capitalization of $50.88 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The business has a 50-day moving average of $112.45 and a 200-day moving average of $117.24.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business earned $1.90 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is 109.34%.

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.