1,312 Shares in Phillips 66 (NYSE:PSX) Acquired by Sanders Morris Harris LLC

Sanders Morris Harris LLC 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 1,312 shares of the oil and gas company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its holdings in Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC bought a new stake in Phillips 66 during the fourth quarter worth approximately $10,402,000. First Dallas Securities Inc. bought a new stake in Phillips 66 during the third quarter worth approximately $753,000. TIAA Trust National Association grew its position in Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Phillips 66 by 27.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after buying an additional 10,536 shares during the last quarter. 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 stock in a transaction that occurred on 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 sale, the executive vice president now directly 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 the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PSX. Piper Sandler decreased their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Bank of America lifted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Scotiabank lifted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Raymond James lowered their price objective on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $157.79.

Phillips 66 Stock Performance

Phillips 66 stock traded up $0.13 on Friday, reaching $138.09. 6,463,625 shares of the stock were exchanged, compared to its average volume of 2,005,362. The stock has a market cap of $58.54 billion, a PE ratio of 10.62, a PEG ratio of 1.95 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 has a twelve month low of $89.74 and a twelve month high of $174.08. The firm has a fifty day moving average price of $144.60 and a two-hundred day moving average price of $144.20.

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 (EPS) 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 the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the previous year, the firm posted $4.21 EPS. Sell-side analysts anticipate that Phillips 66 will post 11.8 EPS for the current 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. This represents a $4.60 annualized dividend and a yield of 3.33%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

Phillips 66 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.