Clear Trail Advisors LLC Takes $588,000 Position in Phillips 66 $PSX

Clear Trail Advisors LLC purchased a new position in Phillips 66 (NYSE:PSX) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,226 shares of the oil and gas company’s stock, valued at approximately $588,000.

A number of other hedge funds also recently bought and sold shares of the company. TD Asset Management Inc boosted its position in shares of Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock worth $23,724,000 after buying an additional 23,364 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Phillips 66 by 5.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 818,025 shares of the oil and gas company’s stock valued at $111,268,000 after buying an additional 39,592 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Phillips 66 by 17.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock valued at $177,018,000 after buying an additional 199,646 shares during the period. Nkcfo LLC purchased a new stake in Phillips 66 in the 3rd quarter worth about $1,948,000. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Phillips 66 during the 3rd quarter worth about $2,394,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This represents a 23.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 45,629 shares of company stock worth $8,071,540. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Up 1.2%

PSX stock opened at $168.21 on Tuesday. The firm has a market cap of $67.44 billion, a PE ratio of 16.57, a PEG ratio of 0.24 and a beta of 0.68. Phillips 66 has a 1 year low of $118.00 and a 1 year high of $190.61. The company has a fifty day simple moving average of $172.09 and a 200 day simple moving average of $159.28. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.90) earnings per share. Sell-side analysts anticipate that Phillips 66 will post 18.22 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group reissued a “buy” rating and issued a $212.00 price target on shares of Phillips 66 in a research report on Monday, June 15th. Scotiabank increased their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Piper Sandler boosted their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a report on Wednesday, April 8th. Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, Argus boosted their target price on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.33.

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.