Howland Capital Management LLC Takes $227,000 Position in Phillips 66 (NYSE:PSX)

Howland Capital Management LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 1st quarter, Holdings Channel reports. The fund purchased 1,841 shares of the oil and gas company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. Brighton Jones LLC raised its stake in shares of Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Phillips 66 by 1.6% during the fourth quarter. Clearbridge Investments LLC now owns 33,517 shares of the oil and gas company’s stock valued at $3,819,000 after acquiring an additional 534 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $178,000. Massachusetts Financial Services Co. MA raised its stake in shares of Phillips 66 by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,107,397 shares of the oil and gas company’s stock valued at $126,166,000 after acquiring an additional 43,238 shares in the last quarter. Finally, Nicolet Advisory Services LLC raised its stake in shares of Phillips 66 by 3.0% during the fourth quarter. Nicolet Advisory Services LLC now owns 7,507 shares of the oil and gas company’s stock valued at $855,000 after acquiring an additional 218 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several research analyst reports. Scotiabank reaffirmed a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a research note on Friday, July 11th. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Tudor Pickering lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Piper Sandler cut their price objective on shares of Phillips 66 from $147.00 to $144.00 and set a “neutral” rating on the stock in a report on Monday, July 28th. Finally, Barclays lifted their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $136.13.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease acquired 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,939 shares of company stock valued at $237,725. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $119.59 on Friday. The firm’s fifty day simple moving average is $122.41 and its two-hundred day simple moving average is $118.90. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.85. The firm has a market capitalization of $48.33 billion, a P/E ratio of 28.75, a P/E/G ratio of 1.68 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. Analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal 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 paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, August 19th. Phillips 66’s payout ratio is presently 115.38%.

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.