RNC Capital Management LLC Acquires 2,894 Shares of Phillips 66 (NYSE:PSX)

RNC Capital Management LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 362,636 shares of the oil and gas company’s stock after purchasing an additional 2,894 shares during the quarter. Phillips 66 makes up about 2.9% of RNC Capital Management LLC’s portfolio, making the stock its 13th largest position. RNC Capital Management LLC’s holdings in Phillips 66 were worth $48,281,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PSX. First Capital Advisors Group LLC. bought a new stake in Phillips 66 during the 2nd quarter valued at approximately $25,000. Cornerstone Planning Group LLC boosted its stake in 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 purchasing an additional 151 shares during the period. Worth Asset Management LLC bought a new stake in Phillips 66 during the 1st quarter valued at approximately $32,000. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 during the 4th quarter valued at approximately $36,000. Finally, Bell Investment Advisors Inc boosted its stake in Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease purchased 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,309 shares of company stock worth $5,981,836. Insiders own 4.57% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Raymond James upped their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Citigroup initiated coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. TD Cowen upped their price target on Phillips 66 from $134.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, December 4th. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $163.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.69.

Phillips 66 Trading Up 1.5 %

Shares of PSX opened at $158.96 on Thursday. The stock has a market cap of $68.01 billion, a PE ratio of 10.28, a PEG ratio of 2.08 and a beta of 1.36. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $161.42. The stock has a 50 day simple moving average of $145.66 and a 200-day simple moving average of $130.14. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The business had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, sell-side analysts predict that Phillips 66 will post 12.55 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were given a $1.05 dividend. The ex-dividend date was Friday, February 16th. This represents a $4.20 dividend on an annualized basis and a yield of 2.64%. Phillips 66’s payout ratio is 27.15%.

Phillips 66 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.