Forum Financial Management LP Grows Position in Phillips 66 (NYSE:PSX)

Forum Financial Management LP grew its stake in shares of Phillips 66 (NYSE:PSX) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,618 shares of the oil and gas company’s stock after acquiring an additional 132 shares during the quarter. Forum Financial Management LP’s holdings in Phillips 66 were worth $941,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted 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 purchasing an additional 7,214 shares in the last quarter. Harbour Investments Inc. grew its position in Phillips 66 by 11.8% in the 4th quarter. Harbour Investments Inc. now owns 3,660 shares of the oil and gas company’s stock valued at $417,000 after acquiring an additional 385 shares in the last quarter. Horizon Investments LLC grew its position in Phillips 66 by 1.8% in the 4th quarter. Horizon Investments LLC now owns 9,726 shares of the oil and gas company’s stock valued at $1,108,000 after acquiring an additional 174 shares in the last quarter. Evoke Wealth LLC boosted its stake in shares of Phillips 66 by 13.2% in the 4th quarter. Evoke Wealth LLC now owns 1,817 shares of the oil and gas company’s stock valued at $207,000 after buying an additional 212 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new stake in Phillips 66 during the fourth quarter worth approximately $3,146,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $125.20 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The stock has a market cap of $51.01 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 1.99 and a beta of 1.02. The company’s fifty day moving average is $121.05 and its 200 day moving average is $118.13.

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

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66’s dividend payout ratio is currently 109.34%.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction dated Wednesday, June 18th. The shares were 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 of the company’s stock, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Pease bought 439 shares of the company’s stock in a transaction dated 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 owned 4,091 shares of the company’s stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Raymond James Financial set a $142.00 target price on Phillips 66 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research report on Wednesday, June 18th. Mizuho upped their price target on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. UBS Group lowered their target price on Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Finally, Scotiabank restated a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $135.27.

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.