HighPoint Advisor Group LLC Purchases Shares of 5,293 Phillips 66 (NYSE:PSX)

HighPoint Advisor Group LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,293 shares of the oil and gas company’s stock, valued at approximately $705,000.

A number of other hedge funds also recently made changes to their positions in PSX. Wellington Management Group LLP raised its holdings in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after purchasing an additional 1,842,226 shares during the last quarter. Morgan Stanley increased its position in shares of Phillips 66 by 2.1% during the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after buying an additional 138,646 shares during the period. Northern Trust Corp raised its stake in Phillips 66 by 6.2% during the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock worth $586,463,000 after buying an additional 283,010 shares during the last quarter. Norges Bank acquired a new position in Phillips 66 in the fourth quarter valued at $559,435,000. Finally, Boston Partners lifted its holdings in Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after buying an additional 3,494,878 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Down 1.0 %

Phillips 66 stock opened at $135.85 on Wednesday. The firm has a market capitalization of $57.59 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.37. The firm’s fifty day moving average price is $146.23 and its two-hundred day moving average price is $144.11. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the business posted $4.21 EPS. On average, equities research analysts predict that Phillips 66 will post 11.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analyst Ratings Changes

Several research firms have recently weighed in on PSX. Scotiabank lifted their price objective on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company lifted their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Barclays dropped their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.57.

About Phillips 66

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.