First Financial Bankshares Inc Has $5.04 Million Stock Position in Phillips 66 $PSX

First Financial Bankshares Inc lifted its position in Phillips 66 (NYSE:PSX) by 1,723.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,021 shares of the oil and gas company’s stock after buying an additional 34,991 shares during the period. First Financial Bankshares Inc’s holdings in Phillips 66 were worth $5,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Evolution Wealth Management Inc. bought a new stake in shares of Phillips 66 in the second quarter worth about $25,000. Winnow Wealth LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at approximately $36,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Phillips 66 in the 2nd quarter valued at approximately $32,000. Twin Peaks Wealth Advisors LLC bought a new stake in Phillips 66 during the 2nd quarter worth approximately $38,000. Finally, AXS Investments LLC acquired a new stake in Phillips 66 during the 3rd quarter worth approximately $44,000. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions at Phillips 66

In related news, EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,959,593.52. This represents a 30.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 41,788 shares of company stock valued at $6,067,250. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $154.73 on Tuesday. The business has a fifty day moving average price of $142.24 and a two-hundred day moving average price of $136.44. The stock has a market capitalization of $62.34 billion, a PE ratio of 14.30, a P/E/G ratio of 0.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $163.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same quarter last year, the business earned ($0.15) earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 3.3%. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s payout ratio is 44.36%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PSX. Raymond James Financial upped their target price on shares of Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Scotiabank reiterated a “sector perform” rating and issued a $140.00 price objective on shares of Phillips 66 in a report on Friday, January 16th. Jefferies Financial Group reissued a “hold” rating and issued a $158.00 price objective on shares of Phillips 66 in a research report on Friday. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Finally, The Goldman Sachs Group upped their price target on shares of Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $160.11.

Phillips 66 Company 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.