Phillips 66 $PSX Shares Purchased by Energy Income Partners LLC

Energy Income Partners LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 443.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,405 shares of the oil and gas company’s stock after purchasing an additional 59,904 shares during the period. Energy Income Partners LLC’s holdings in Phillips 66 were worth $13,373,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PSX. KCM Investment Advisors LLC boosted its holdings in Phillips 66 by 10.1% in the 1st quarter. KCM Investment Advisors LLC now owns 5,063 shares of the oil and gas company’s stock valued at $922,000 after purchasing an additional 463 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Phillips 66 by 9.9% during the 1st quarter. Quantinno Capital Management LP now owns 294,580 shares of the oil and gas company’s stock worth $53,667,000 after buying an additional 26,428 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $234,000. Family Manage LLC purchased a new stake in shares of Phillips 66 during the 1st quarter valued at approximately $292,000. Finally, Cardiff Park Advisors LLC purchased a new stake in shares of Phillips 66 during the 1st quarter valued at approximately $253,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PSX. Wolfe Research increased their price objective on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Barclays increased their price target on Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.72.

Insiders Place Their Bets

In other news, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost 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 filing with the SEC, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value 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 approximately $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,021 shares of company stock valued at $7,195,257 over the last ninety days. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $207.72 on Tuesday. 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 market capitalization of $83.28 billion, a P/E ratio of 20.46, a PEG ratio of 0.16 and a beta of 0.69. The company has a 50 day moving average price of $183.09 and a 200 day moving average price of $168.98. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $216.08.

Phillips 66 (NYSE:PSX) last posted its 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 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 firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.90) EPS. Equities research analysts forecast that Phillips 66 will post 22.43 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.4%. Phillips 66’s payout ratio is presently 50.05%.

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.