Gabelli Funds LLC Raises Stock Holdings in Phillips 66 $PSX

Gabelli Funds LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,750 shares of the oil and gas company’s stock after purchasing an additional 25,850 shares during the period. Gabelli Funds LLC’s holdings in Phillips 66 were worth $18,162,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GHP Investment Advisors Inc. boosted its holdings in Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after purchasing an additional 72 shares during the last quarter. L2 Asset Management LLC boosted its holdings in Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 72 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in Phillips 66 by 0.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after purchasing an additional 73 shares during the last quarter. KCM Investment Advisors LLC boosted its holdings in Phillips 66 by 1.6% in the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 74 shares during the last quarter. Finally, Abacus Planning Group Inc. boosted its holdings in Phillips 66 by 3.9% in the fourth quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,029 shares of company stock valued at $19,641,455 in the last quarter. 0.40% of the stock is owned by insiders.

Phillips 66 Stock Up 2.1%

Shares of Phillips 66 stock opened at $179.85 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The business’s 50 day simple moving average is $171.05 and its 200-day simple moving average is $152.25. The stock has a market capitalization of $72.11 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.26 and a beta of 0.70. Phillips 66 has a twelve month low of $109.75 and a twelve month high of $190.61.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.90) EPS. Equities research analysts forecast that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of analyst reports. Jefferies Financial Group downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Mizuho upped their price objective on Phillips 66 from $152.00 to $170.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. UBS Group upped their price objective on Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Morgan Stanley restated an “overweight” rating and set a $180.00 price objective on shares of Phillips 66 in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.28.

Key Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66 announced the Zeus Gas Plant and a third Coastal Bend Fractionator, a meaningful capacity expansion that could support future growth in gas processing and fractionation volumes. Reuters: Phillips 66 to expand gas processing in Permian Basin and Gulf Coast
• Positive Sentiment: The new projects deepen Phillips 66’s Permian-to-Gulf Coast integration and could strengthen margins by capturing more value across the midstream chain. Yahoo Finance: Phillips 66 announces Zeus Gas Plant and a third Coastal Bend Fractionator
• Positive Sentiment: Brokerage and earnings commentary has also been constructive, with Scotiabank reportedly lifting earnings estimates and recent coverage highlighting Phillips 66’s Q1 earnings beat. American Banking News: Scotiabank Brokers Lift Earnings Estimates for Phillips 66
• Neutral Sentiment: Some articles focused on PSX’s recent 1-week momentum and valuation following its Q1 beat and board changes, which may be helping keep the stock on traders’ radar. Zacks: Phillips 66 Is Up 2.70% in One Week
• Neutral Sentiment: Broader energy-sector weakness earlier in the day may have offset some of the stock-specific optimism. Yahoo Finance: Sector Update Energy Stocks Lean Lower Pre-Bell Monday

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.