Cwm LLC Raises Stock Position in Phillips 66 (NYSE:PSX)

Cwm LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,988 shares of the oil and gas company’s stock after purchasing an additional 2,403 shares during the period. Cwm LLC’s holdings in Phillips 66 were worth $3,194,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Criterion Capital Advisors LLC purchased a new stake in Phillips 66 during the 4th quarter worth approximately $98,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Phillips 66 by 0.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,608 shares of the oil and gas company’s stock worth $5,407,000 after purchasing an additional 207 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in Phillips 66 by 1.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,728 shares of the oil and gas company’s stock worth $896,000 after purchasing an additional 120 shares during the last quarter. Signaturefd LLC grew its position in Phillips 66 by 7.3% during the 4th quarter. Signaturefd LLC now owns 10,181 shares of the oil and gas company’s stock worth $1,355,000 after purchasing an additional 694 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in Phillips 66 by 10.5% during the 4th quarter. Lindbrook Capital LLC now owns 3,491 shares of the oil and gas company’s stock worth $465,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $157.82 on Thursday. The firm has a 50-day simple moving average of $155.18 and a 200-day simple moving average of $136.46. The stock has a market capitalization of $67.52 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. On average, equities analysts predict that Phillips 66 will post 13.59 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 27.15%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. upped their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Raymond James boosted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Barclays boosted their target price on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Scotiabank boosted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Activity at Phillips 66

In other news, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company insiders.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.