AJOVista LLC Purchases New Shares in Phillips 66 (NYSE:PSX)

AJOVista LLC acquired a new position in Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 822 shares of the oil and gas company’s stock, valued at approximately $109,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Signature Resources Capital Management LLC purchased a new position in Phillips 66 in the fourth quarter valued at about $33,000. Cornerstone Planning Group LLC boosted its stake in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at approximately $36,000. West Branch Capital LLC grew its position in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its holdings in Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent analyst reports. Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Bank of America boosted their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Citigroup started coverage on Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, Piper Sandler lifted their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Insider Buying and Selling

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business’s 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 sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

NYSE PSX traded down $0.26 on Friday, hitting $143.61. The stock had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. The company’s 50-day moving average is $155.55 and its two-hundred day moving average is $138.03. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The stock has a market cap of $60.88 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the company earned $4.21 earnings per share. On average, analysts expect that Phillips 66 will post 13.17 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s payout ratio is currently 32.31%.

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.