Phillips 66 (NYSE:PSX) Shares Bought by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 13.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,735 shares of the oil and gas company’s stock after acquiring an additional 457 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Phillips 66 were worth $461,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of PSX. Geode Capital Management LLC lifted its holdings in Phillips 66 by 1.0% in 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 lifted 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 during the period. Northern Trust Corp lifted its holdings 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 worth $522,834,000 after purchasing an additional 440,107 shares during the period. Norges Bank acquired a new stake in Phillips 66 in the fourth quarter worth about $497,648,000. Finally, Invesco Ltd. lifted its holdings in Phillips 66 by 9.2% in the fourth quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company’s stock worth $468,551,000 after purchasing an additional 347,905 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Pease acquired 439 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the acquisition, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PSX shares. Tudor Pickering downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Cantor Fitzgerald started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a “neutral” rating for the company. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a report on Thursday, March 27th. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Finally, Morgan Stanley reduced their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.93.

Phillips 66 Price Performance

NYSE PSX opened at $126.80 on Monday. The stock’s 50-day moving average price is $116.94 and its two-hundred day moving average price is $117.14. 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 company has a market cap of $51.66 billion, a PE ratio of 28.88, a PEG ratio of 2.00 and a beta of 1.02. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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). The company had revenue of $31.92 billion for the quarter, compared to analyst estimates 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 firm posted $1.90 EPS. On average, analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.79%. 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 payout ratio is presently 109.34%.

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.