Phillips 66 $PSX Holdings Lifted by Strategic Planning Group LLC

Strategic Planning Group LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,540 shares of the oil and gas company’s stock after buying an additional 4,568 shares during the quarter. Strategic Planning Group LLC’s holdings in Phillips 66 were worth $7,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. GHP Investment Advisors Inc. grew its holdings in shares of Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 72 shares in the last quarter. L2 Asset Management LLC grew its holdings in shares of Phillips 66 by 4.0% during the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after buying an additional 72 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in shares of Phillips 66 by 0.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after buying an additional 73 shares in the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Phillips 66 by 1.6% during the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock worth $631,000 after acquiring an additional 74 shares in the last quarter. Finally, Abacus Planning Group Inc. raised its holdings in shares of Phillips 66 by 3.9% during the fourth quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock worth $257,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PSX. Jefferies Financial Group lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price objective on shares of Phillips 66 in a report on Thursday, April 30th. Finally, BMO Capital Markets increased their price objective on Phillips 66 from $175.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.50.

Insider Activity

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director directly owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction on Wednesday, May 6th. The shares were acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 91,529 shares of company stock valued at $15,740,519. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Trading Up 2.1%

Phillips 66 stock opened at $175.13 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $70.21 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 0.26 and a beta of 0.70. Phillips 66 has a one year low of $109.75 and a one year high of $190.61. The company’s fifty day moving average price is $169.65 and its two-hundred day moving average price is $150.82.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for 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 business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.90) earnings per share. On average, analysts forecast that Phillips 66 will post 17.39 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend 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.