Quarry LP Buys 994 Shares of Phillips 66 (NYSE:PSX)

Quarry LP lifted its stake in shares of Phillips 66 (NYSE:PSX) by 36.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,751 shares of the oil and gas company’s stock after purchasing an additional 994 shares during the period. Quarry LP’s holdings in Phillips 66 were worth $499,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. First United Bank & Trust acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $31,000. Signature Resources Capital Management LLC acquired a new stake in Phillips 66 in the fourth quarter worth about $33,000. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 during the 4th quarter worth about $36,000. Gladius Capital Management LP acquired a new position in Phillips 66 during the 4th quarter valued at about $36,000. Finally, West Branch Capital LLC lifted its position in Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares during the period. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Raymond James dropped their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. The Goldman Sachs Group increased their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Argus reaffirmed a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Finally, Bank of America increased their price target on shares of 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 given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.57.

Phillips 66 Stock Performance

PSX stock traded down $0.91 during trading hours on Friday, reaching $136.76. The stock had a trading volume of 1,848,501 shares, compared to its average volume of 2,743,845. The stock has a 50-day simple moving average of $148.12 and a 200 day simple moving average of $143.55. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The stock has a market capitalization of $57.98 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 1.86 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

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). The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter last year, the business posted $4.21 earnings per share. Analysts predict that Phillips 66 will post 12.16 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $1.15 dividend. The ex-dividend date was Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 35.38%.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the 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 transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold a total of 50,864 shares of company stock valued at $7,567,178 in the last three months. 0.22% of the stock is currently owned by company insiders.

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.