Exeter Financial LLC Has $1.60 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Exeter Financial LLC boosted its stake in Phillips 66 (NYSE:PSX) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,940 shares of the oil and gas company’s stock after purchasing an additional 210 shares during the quarter. Exeter Financial LLC’s holdings in Phillips 66 were worth $1,598,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PSX. Tallon Kerry Patrick acquired a new stake in Phillips 66 in the fourth quarter worth $336,000. Brighton Jones LLC grew its holdings in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Phillips 66 by 14.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,665 shares of the oil and gas company’s stock valued at $418,000 after buying an additional 473 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Phillips 66 by 18.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,700 shares of the oil and gas company’s stock valued at $536,000 after buying an additional 721 shares in the last quarter. Finally, Nilsine Partners LLC lifted its stake in shares of Phillips 66 by 56.4% in the fourth quarter. Nilsine Partners LLC now owns 4,059 shares of the oil and gas company’s stock valued at $462,000 after buying an additional 1,464 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSX. Barclays raised their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. TD Cowen raised their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Tudor Pickering lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Raymond James dropped their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.86.

Phillips 66 Stock Up 1.8%

PSX opened at $114.80 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company’s 50-day moving average is $109.50 and its 200 day moving average is $118.69. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The firm has a market capitalization of $46.77 billion, a P/E ratio of 23.24, a PEG ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the business earned $1.90 earnings per share. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $1.20 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.18%. Phillips 66’s payout ratio is currently 109.34%.

Insiders Place Their Bets

In related news, Director Robert W. Pease acquired 439 shares of the stock in a transaction on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.