SageView Advisory Group LLC Buys New Shares in Phillips 66 (NYSE:PSX)

SageView Advisory Group LLC bought a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,784 shares of the oil and gas company’s stock, valued at approximately $396,000.

Other institutional investors have also recently added to or reduced their stakes in the company. First United Bank & Trust purchased a new stake in Phillips 66 during the fourth quarter valued at about $31,000. Signature Resources Capital Management LLC purchased a new stake in Phillips 66 during the fourth quarter valued at about $33,000. Bruce G. Allen Investments LLC purchased a new stake 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 valued at about $36,000. Finally, West Branch Capital LLC grew its position in Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $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.

Phillips 66 Trading Down 1.0 %

Shares of NYSE PSX opened at $135.85 on Thursday. The stock’s 50 day moving average price is $145.64 and its two-hundred day moving average price is $144.06. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The stock has a market capitalization of $57.59 billion, a P/E ratio of 10.45, a PEG ratio of 1.94 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 (NYSE:PSX) last announced its quarterly earnings data 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). 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 analyst estimates of $35.87 billion. During the same quarter in the previous year, the company earned $4.21 EPS. On average, analysts anticipate that Phillips 66 will post 11.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a dividend of $1.15 per share. The ex-dividend date was Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.39%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is presently 35.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Raymond James lowered their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Piper Sandler decreased their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, Scotiabank upped their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.57.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the 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 sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.