Beto Financial Group LLC Purchases Shares of 2,900 Phillips 66 $PSX

Beto Financial Group LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,900 shares of the oil and gas company’s stock, valued at approximately $412,000.

Several other hedge funds have also bought and sold shares of the stock. CYBER HORNET ETFs LLC grew its holdings in Phillips 66 by 5.7% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after purchasing an additional 66 shares during the period. GHP Investment Advisors Inc. lifted its position in shares of Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after acquiring an additional 72 shares in the last quarter. L2 Asset Management LLC lifted its position in shares of Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 72 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Phillips 66 by 0.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after acquiring an additional 73 shares in the last quarter. Finally, KCM Investment Advisors LLC lifted its position in shares of Phillips 66 by 1.6% in the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, for a total transaction 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 represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 114,029 shares of company stock worth $19,641,455. Corporate insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PSX shares. Raymond James Financial boosted their price objective on Phillips 66 from $205.00 to $215.00 in a research report on Thursday, April 30th. BMO Capital Markets boosted their price objective on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Argus boosted their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Wolfe Research boosted their target price on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.28.

Phillips 66 Trading Up 2.4%

Shares of PSX stock opened at $180.06 on Tuesday. Phillips 66 has a 1 year low of $111.19 and a 1 year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $172.41 and its two-hundred day simple moving average is $155.05. The company has a market cap of $72.19 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.90) earnings per share. Research analysts predict that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.8%. Phillips 66’s dividend payout ratio is currently 50.05%.

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.