Foundations Investment Advisors LLC Grows Position in Phillips 66 $PSX

Foundations Investment Advisors LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 51.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,376 shares of the oil and gas company’s stock after buying an additional 5,251 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Phillips 66 were worth $1,984,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PSX. Board of the Pension Protection Fund purchased a new stake in shares of Phillips 66 during the fourth quarter worth $26,000. Accordant Advisory Group Inc grew its holdings in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $27,000. Stephens Consulting LLC grew its position in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Dorato Capital Management purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction on Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 114,029 shares of company stock worth $19,641,455. 0.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PSX. JPMorgan Chase & Co. upped their price target on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Barclays upped their price target on Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Wall Street Zen lowered Phillips 66 from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Wolfe Research upped their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $191.28.

Phillips 66 Trading Down 0.5%

Shares of Phillips 66 stock opened at $175.79 on Friday. The firm has a market capitalization of $70.48 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.26 and a beta of 0.70. Phillips 66 has a fifty-two week low of $111.19 and a fifty-two week high of $190.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a 50 day moving average of $172.38 and a 200 day moving average of $154.66.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.90) earnings per share. As a group, research analysts predict that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Phillips 66 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.