BTC Capital Management Inc. Purchases Shares of 23,457 Phillips 66 $PSX

BTC Capital Management Inc. acquired a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 23,457 shares of the oil and gas company’s stock, valued at approximately $3,024,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evolution Wealth Management Inc. acquired a new position in Phillips 66 in the second quarter valued at approximately $25,000. Board of the Pension Protection Fund acquired a new position in shares of Phillips 66 during the 4th quarter valued at $26,000. Stephens Consulting LLC boosted its stake in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 90 shares in the last quarter. Winnow Wealth LLC acquired a new stake in Phillips 66 in the third quarter worth $36,000. Finally, Wealth Watch Advisors INC bought a new stake in Phillips 66 in the third quarter valued at $36,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 1.5%

Shares of Phillips 66 stock opened at $182.08 on Wednesday. The company has a market capitalization of $72.97 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 0.33 and a beta of 0.86. The stock has a fifty day simple moving average of $161.04 and a 200 day simple moving average of $144.19. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $190.61. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion for 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 9.13%. During the same period in the previous year, the firm earned ($0.15) EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s payout ratio is 46.95%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the transaction, the executive vice president owned 38,488 shares in the company, valued at $6,158,080. This represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the sale, the executive vice president owned 61,595 shares in the company, valued at $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 84,688 shares of company stock worth $14,066,145. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PSX shares. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $168.00 to $186.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, BMO Capital Markets restated an “outperform” rating and set a $170.00 price objective on shares of Phillips 66 in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.11.

Phillips 66 Company Profile

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.