Wealthspire Advisors LLC Raises Stock Holdings in Phillips 66 (NYSE:PSX)

Wealthspire Advisors LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,558 shares of the oil and gas company’s stock after buying an additional 1,212 shares during the period. Wealthspire Advisors LLC’s holdings in Phillips 66 were worth $1,539,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mackenzie Financial Corp grew its position in shares of Phillips 66 by 2.0% during the third quarter. Mackenzie Financial Corp now owns 40,454 shares of the oil and gas company’s stock valued at $4,678,000 after purchasing an additional 810 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Phillips 66 by 10.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,428 shares of the oil and gas company’s stock worth $16,031,000 after acquiring an additional 12,181 shares during the last quarter. Advisor Partners II LLC raised its holdings in shares of Phillips 66 by 4.9% during the 3rd quarter. Advisor Partners II LLC now owns 20,331 shares of the oil and gas company’s stock worth $2,443,000 after acquiring an additional 956 shares in the last quarter. Keel Point LLC bought a new position in shares of Phillips 66 during the 3rd quarter valued at approximately $201,000. Finally, Graypoint LLC purchased a new position in shares of Phillips 66 in the third quarter valued at $347,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 0.5 %

NYSE PSX traded up $0.78 on Thursday, reaching $147.72. 2,161,848 shares of the stock traded hands, compared to its average volume of 2,931,820. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The company has a fifty day moving average price of $155.60 and a 200-day moving average price of $138.84. The company has a market cap of $62.63 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the company earned $4.21 earnings per share. As a group, research analysts forecast that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm 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 $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.11%. Phillips 66’s payout ratio is 32.31%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSX shares. Mizuho lowered their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Barclays lowered their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Bank of America boosted their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Insiders Place Their Bets

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a 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 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 $3,648,120.07. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 over the last 90 days. Company insiders own 0.22% of the company’s stock.

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.