Wealthspan Partners LLC Invests $215,000 in Phillips 66 (NYSE:PSX)

Wealthspan Partners LLC acquired a new position in Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,743 shares of the oil and gas company’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSX. J.Safra Asset Management Corp acquired a new position in Phillips 66 in the fourth quarter valued at approximately $25,000. Pacific Center for Financial Services acquired a new position in Phillips 66 in the fourth quarter valued at approximately $27,000. Graney & King LLC acquired a new position in Phillips 66 in the fourth quarter valued at approximately $28,000. Wood Tarver Financial Group LLC acquired a new position in Phillips 66 in the fourth quarter valued at approximately $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the first quarter valued at approximately $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on PSX. UBS Group dropped their price target on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. TD Cowen upped their target price on Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Tudor Pickering lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Morgan Stanley lowered their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Compass Point began coverage on Phillips 66 in a research report on Wednesday. They set a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.93.

Phillips 66 Trading Up 0.4%

Shares of Phillips 66 stock opened at $124.98 on Thursday. The stock has a fifty day simple moving average of $111.33 and a 200 day simple moving average of $117.38. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company has a market capitalization of $50.92 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter last year, the company posted $1.90 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is 109.34%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of Phillips 66 stock in a transaction on Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director now directly owns 4,091 shares of the company’s stock, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

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.