Carson Advisory Inc. Buys Shares of 1,384 Phillips 66 (NYSE:PSX)

Carson Advisory Inc. bought a new position in shares of Phillips 66 (NYSE:PSX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,384 shares of the oil and gas company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter valued at $559,435,000. Boston Partners increased its holdings in shares of Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after buying an additional 3,494,878 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after buying an additional 2,209,043 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at $254,336,000. Finally, Wellington Management Group LLP increased its holdings in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSX. Mizuho reduced their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Wells Fargo & Company increased their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Barclays reduced their target price on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a report on Tuesday. Bank of America increased their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Piper Sandler reduced their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.64.

Phillips 66 Stock Performance

PSX stock traded up $1.16 during mid-day trading on Wednesday, reaching $133.97. 2,052,291 shares of the stock traded hands, compared to its average volume of 2,744,899. 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 $98.65 and a 52 week high of $174.08. The business has a 50-day moving average of $140.63 and a two-hundred day moving average of $145.05. The firm has a market capitalization of $56.80 billion, a PE ratio of 10.31, a P/E/G ratio of 2.13 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter last year, the company earned $4.21 earnings per share. As a group, equities analysts predict that Phillips 66 will post 10.62 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. Phillips 66’s payout ratio is presently 35.38%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, 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 can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

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.