Richard Bernstein Advisors LLC Acquires New Shares in Phillips 66 (NYSE:PSX)

Richard Bernstein Advisors LLC purchased a new position in Phillips 66 (NYSE:PSXFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,474 shares of the oil and gas company’s stock, valued at approximately $2,820,000.

Several other hedge funds have also added to or reduced their stakes in PSX. Bornite Capital Management LP bought a new stake in Phillips 66 in the first quarter worth $8,639,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Phillips 66 by 316.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after acquiring an additional 5,012 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Phillips 66 by 5.1% during the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after acquiring an additional 788 shares during the last quarter. Cibc World Market Inc. raised its stake in shares of Phillips 66 by 61.9% during the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after acquiring an additional 2,766 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Phillips 66 by 103.8% during the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock valued at $4,625,000 after acquiring an additional 27,267 shares during the last quarter. 71.83% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Shares of PSX stock traded up $1.89 on Thursday, hitting $143.13. 421,423 shares of the stock traded hands, compared to its average volume of 3,070,406. The firm has a market cap of $61.23 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.85 and a beta of 1.38. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $150.08. The firm has a 50 day simple moving average of $138.46 and a two-hundred day simple moving average of $125.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02.

Phillips 66 (NYSE:PSXGet Free Report) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, equities research analysts predict that Phillips 66 will post 13.06 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Tuesday, February 20th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.93%. Phillips 66’s dividend payout ratio is presently 27.15%.

Insider Buying and Selling

In other news, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pease purchased 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 63,587 shares of company stock valued at $8,671,094. Company insiders own 4.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays increased their price target on shares of Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Citigroup started coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating on the stock. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $151.00 to $163.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Finally, TD Cowen increased their price target on shares of Phillips 66 from $134.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, December 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $138.21.

Read Our Latest Report on PSX

About Phillips 66

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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