NewSquare Capital LLC Sells 290 Shares of Phillips 66 (NYSE:PSX)

NewSquare Capital LLC decreased its position in Phillips 66 (NYSE:PSX) by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 49,747 shares of the oil and gas company’s stock after selling 290 shares during the quarter. NewSquare Capital LLC’s holdings in Phillips 66 were worth $6,062,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PSX. Price T Rowe Associates Inc. MD grew its holdings in shares of Phillips 66 by 283.5% during 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 last quarter. Norges Bank acquired a new position in Phillips 66 during the 4th quarter worth about $497,648,000. Raymond James Financial Inc. bought a new stake in Phillips 66 during the 4th quarter worth about $168,790,000. Capitolis Liquid Global Markets LLC acquired a new stake in Phillips 66 in the 4th quarter valued at about $142,185,000. Finally, GAMMA Investing LLC raised its stake in shares of Phillips 66 by 14,119.5% in the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company’s stock worth $146,893,000 after acquiring an additional 1,181,240 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX opened at $114.51 on Monday. The stock has a market cap of $46.65 billion, a P/E ratio of 23.18, a P/E/G ratio of 4.84 and a beta of 1.02. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $108.22 and a 200 day simple moving average of $117.83.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results 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 business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the company earned $1.90 earnings per share. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 4.19%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66’s dividend payout ratio is presently 109.34%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Mizuho boosted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Tudor Pickering cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. TD Cowen boosted their target price on Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. Finally, Raymond James lowered their price objective on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.62.

Insiders Place Their Bets

In related news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.