Ables Iannone Moore & Associates Inc. Makes New Investment in Phillips 66 (NYSE:PSX)

Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 200 shares of the oil and gas company’s stock, valued at approximately $27,000.

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

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’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 transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was 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 directly owns 48,365 shares in the company, valued at approximately $7,051,617. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Scotiabank upped their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Argus reissued a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Finally, The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.57.

Phillips 66 Trading Up 0.4 %

NYSE PSX opened at $137.29 on Tuesday. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The stock’s fifty day moving average price is $146.82 and its 200-day moving average price is $144.07. The stock has a market cap of $58.20 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.87 and a beta of 1.37. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the business earned $4.21 EPS. As a group, equities analysts forecast that Phillips 66 will post 12.16 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a $1.15 dividend. The ex-dividend date was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.35%. Phillips 66’s payout ratio is currently 35.38%.

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.