Strategic Planning Group LLC Buys 2,414 Shares of Phillips 66 (NYSE:PSX)

Strategic Planning Group LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 14.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,774 shares of the oil and gas company’s stock after purchasing an additional 2,414 shares during the period. Strategic Planning Group LLC’s holdings in Phillips 66 were worth $3,067,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 during the 4th quarter worth about $27,000. First United Bank & Trust acquired a new stake in Phillips 66 during the 4th quarter worth about $31,000. Rise Advisors LLC acquired a new stake in Phillips 66 during the 1st quarter worth about $40,000. Signature Resources Capital Management LLC acquired a new stake in Phillips 66 during the 4th quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Phillips 66 during the 4th quarter worth about $36,000. 76.93% of the stock is owned by institutional investors.

Insider Activity

In related 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 transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several research reports. Raymond James reduced their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Bank of America lifted their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Argus reissued a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Barclays dropped their target price on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Finally, Scotiabank lifted their target price 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. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.79.

Phillips 66 Trading Up 0.3 %

Shares of PSX stock opened at $138.95 on Tuesday. The company’s fifty day simple moving average is $144.16 and its two-hundred day simple moving average is $144.43. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. Phillips 66 has a 1 year low of $90.86 and a 1 year high of $174.08. The stock has a market capitalization of $58.91 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm 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 firm earned $4.21 earnings per share. As a group, analysts anticipate that Phillips 66 will post 11.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared 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. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, May 17th. Phillips 66’s 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.