Creekmur Asset Management LLC Purchases New Holdings in Phillips 66 (NYSE:PSX)

Creekmur Asset Management LLC acquired a new position in Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,289 shares of the oil and gas company’s stock, valued at approximately $970,000.

Several other large investors have also recently made changes to their positions in the business. Scarborough Advisors LLC purchased a new stake in Phillips 66 during the fourth quarter worth about $174,000. Counterweight Ventures LLC purchased a new position in Phillips 66 in the fourth quarter valued at approximately $308,000. Syon Capital LLC grew its holdings in Phillips 66 by 7.9% during the fourth quarter. Syon Capital LLC now owns 3,401 shares of the oil and gas company’s stock valued at $453,000 after purchasing an additional 248 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after buying an additional 36,116 shares during the period. Finally, Beacon Financial Group lifted its position in shares of Phillips 66 by 0.3% during the 4th quarter. Beacon Financial Group now owns 42,285 shares of the oil and gas company’s stock valued at $5,630,000 after buying an additional 120 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction on 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 approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’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 transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value 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 approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders sold 50,864 shares of company stock worth $7,567,178 in the last quarter. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Piper Sandler cut their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Argus reiterated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Finally, StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.57.

Phillips 66 Price Performance

Shares of PSX stock traded down $0.91 during trading on Friday, hitting $136.76. The company had a trading volume of 2,107,760 shares, compared to its average volume of 2,033,896. The stock’s 50-day moving average is $147.44 and its two-hundred day moving average is $143.86. The stock has a market capitalization of $57.98 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations 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 EPS. As a group, analysts predict that Phillips 66 will post 12.16 EPS for the current fiscal year.

Phillips 66 Increases Dividend

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

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.