Bay Colony Advisory Group Inc d b a Bay Colony Advisors Takes $200,000 Position in Phillips 66 (NYSE:PSX)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,504 shares of the oil and gas company’s stock, valued at approximately $200,000.

Other hedge funds also recently modified their holdings of the company. First Capital Advisors Group LLC. purchased a new stake in shares of Phillips 66 in the second quarter valued at $25,000. Cornerstone Planning Group LLC raised its holdings in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares in the last quarter. Worth Asset Management LLC purchased a new stake in shares of Phillips 66 during the first quarter worth $32,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $36,000. Finally, Bell Investment Advisors Inc raised its holdings in shares of Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.9 %

Shares of PSX opened at $157.80 on Wednesday. The company has a market capitalization of $67.51 billion, a P/E ratio of 10.20, a PEG ratio of 2.03 and a beta of 1.37. 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 has a one year low of $89.74 and a one year high of $174.08. The business’s 50 day simple moving average is $153.87 and its 200-day simple moving average is $134.78.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. As a group, sell-side analysts predict that Phillips 66 will post 13.2 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 2.92%. Phillips 66’s dividend payout ratio is currently 27.15%.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PSX. The Goldman Sachs Group raised their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Citigroup assumed coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Bank of America raised their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. raised their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Piper Sandler raised their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.86.

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.