Caprock Group LLC Makes New Investment in Phillips 66 $PSX

Caprock Group LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the third quarter, Holdings Channel.com reports. The fund acquired 17,895 shares of the oil and gas company’s stock, valued at approximately $2,412,000.

A number of other institutional investors have also made changes to their positions in the company. Evolution Wealth Management Inc. purchased a new stake in Phillips 66 during the 2nd quarter worth $25,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Phillips 66 during the second quarter valued at about $32,000. Winnow Wealth LLC acquired a new stake in shares of Phillips 66 during the third quarter valued at about $36,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Phillips 66 during the second quarter worth about $38,000. Finally, Operose Advisors LLC lifted its stake in shares of Phillips 66 by 260.4% in the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 250 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president directly owned 25,799 shares in the company, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 60,488 shares of company stock worth $8,474,466 in the last quarter. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 3.3%

NYSE:PSX opened at $156.20 on Friday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $163.79. The business has a fifty day moving average of $139.99 and a 200-day moving average of $134.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The stock has a market cap of $62.94 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.57 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 3.3%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date is Monday, February 23rd. Phillips 66’s payout ratio is 44.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PSX shares. Wolfe Research raised their price objective on Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Morgan Stanley lifted their price target on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Citigroup upped their price target on shares of Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler raised their price objective on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Raymond James Financial upped their target price on shares of Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Hold” and a consensus price target of $157.18.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.