SVB Wealth LLC Has $1.37 Million Stock Holdings in Phillips 66 (NYSE:PSX)

SVB Wealth LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 14.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,311 shares of the oil and gas company’s stock after buying an additional 1,294 shares during the quarter. SVB Wealth LLC’s holdings in Phillips 66 were worth $1,373,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. First Capital Advisors Group LLC. acquired a new stake in shares of Phillips 66 during the 2nd quarter worth about $25,000. Cornerstone Planning Group LLC lifted 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 worth $32,000 after buying an additional 151 shares during the last quarter. Worth Asset Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth about $32,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $36,000. Finally, Bell Investment Advisors Inc increased its position in 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 during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 2.5 %

PSX opened at $153.31 on Friday. The company’s 50 day moving average is $154.22 and its 200-day moving average is $135.06. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company has a market cap of $65.59 billion, a P/E ratio of 9.91, a PEG ratio of 1.98 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Equities research analysts predict that Phillips 66 will post 13.25 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.00%. Phillips 66’s dividend payout ratio (DPR) is currently 27.15%.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 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 sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on 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 in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Scotiabank raised their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Bank of America raised their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Barclays raised their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Mizuho lowered their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $158.00.

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.