Phillips 66 $PSX Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC grew its position in Phillips 66 (NYSE:PSX) by 29.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,205 shares of the oil and gas company’s stock after purchasing an additional 3,502 shares during the period. Chicago Partners Investment Group LLC’s holdings in Phillips 66 were worth $2,770,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PSX. J. Safra Sarasin Holding AG lifted its holdings in shares of Phillips 66 by 3.0% during the first quarter. J. Safra Sarasin Holding AG now owns 5,776 shares of the oil and gas company’s stock worth $1,052,000 after purchasing an additional 168 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Phillips 66 by 60.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 51,960 shares of the oil and gas company’s stock worth $9,466,000 after buying an additional 19,659 shares during the last quarter. Avion Wealth lifted its stake in Phillips 66 by 67.2% during the 1st quarter. Avion Wealth now owns 1,361 shares of the oil and gas company’s stock valued at $247,000 after acquiring an additional 547 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at $50,000. Finally, Associated Banc Corp boosted its holdings in shares of Phillips 66 by 0.5% in the 1st quarter. Associated Banc Corp now owns 97,319 shares of the oil and gas company’s stock valued at $17,730,000 after acquiring an additional 477 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 11,021 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $18,504,361.28. This represents a 10.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at approximately $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. Insiders sold 41,021 shares of company stock valued at $7,195,257 over the last 90 days. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PSX shares. Citigroup raised their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. The Goldman Sachs Group upped their price target 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. Scotiabank increased their price target on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Wolfe Research boosted their price objective on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.89.

Phillips 66 Trading Up 5.1%

PSX stock opened at $198.00 on Tuesday. The company’s 50-day simple moving average is $176.76 and its 200-day simple moving average is $163.69. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52-week low of $118.07 and a 52-week high of $198.58. The firm has a market cap of $79.38 billion, a P/E ratio of 19.51, a PEG ratio of 0.25 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share 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 analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’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 business earned ($0.90) EPS. As a group, equities analysts forecast that Phillips 66 will post 19.3 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 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.