CFO Capital Management LLC Takes $403,000 Position in Phillips 66 $PSX

CFO Capital Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,125 shares of the oil and gas company’s stock, valued at approximately $403,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after acquiring an additional 205,480 shares during the last quarter. State Street Corp grew its stake in Phillips 66 by 0.8% during the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock worth $3,043,996,000 after buying an additional 175,616 shares during the last quarter. Geode Capital Management LLC boosted its position in Phillips 66 by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after acquiring an additional 45,340 shares during the period. Norges Bank acquired a new stake in Phillips 66 in the fourth quarter worth approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock valued at $509,006,000 after buying an additional 89,621 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. This trade represents a 0.61% decrease in their ownership of the stock. 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. 0.40% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

NYSE PSX opened at $166.13 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $66.61 billion, a P/E ratio of 16.37, a PEG ratio of 0.24 and a beta of 0.68. Phillips 66 has a twelve month low of $118.00 and a twelve month high of $190.61. The company’s 50-day simple moving average is $171.94 and its 200 day simple moving average is $158.93.

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 (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.90) EPS. As a group, research analysts forecast that Phillips 66 will post 18.22 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $1.27 dividend. The ex-dividend date was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.1%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Guggenheim raised Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Jefferies Financial Group lifted their target price on shares of Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Raymond James Financial upped their price objective on shares of Phillips 66 from $215.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Finally, Barclays increased their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.33.

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.