Ballentine Partners LLC Grows Stock Holdings in Phillips 66 (NYSE:PSX)

Ballentine Partners LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,913 shares of the oil and gas company’s stock after purchasing an additional 110 shares during the quarter. Ballentine Partners LLC’s holdings in Phillips 66 were worth $476,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PSX. Madison Park Capital Advisors LLC grew its stake in Phillips 66 by 3.0% in the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after acquiring an additional 68 shares during the period. Warwick Investment Management Inc. grew its stake in Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 73 shares during the period. HCR Wealth Advisors lifted its holdings in Phillips 66 by 2.9% in the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares in the last quarter. Nvwm LLC lifted its holdings in Phillips 66 by 0.9% in the 4th quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock valued at $1,103,000 after purchasing an additional 75 shares in the last quarter. Finally, Cardinal Capital Management lifted its holdings in Phillips 66 by 0.3% in the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated 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 transaction, 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 filing with the SEC, which is accessible through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on PSX shares. TD Cowen decreased their price objective on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Piper Sandler decreased their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Scotiabank raised their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, Bank of America lifted their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $157.79.

Phillips 66 Stock Up 0.3 %

Shares of NYSE:PSX opened at $138.48 on Tuesday. The business has a 50-day moving average price of $144.16 and a 200 day moving average price of $144.43. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $58.71 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.95 and a beta of 1.37. Phillips 66 has a 12-month low of $90.86 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the previous year, the business posted $4.21 earnings per share. Sell-side analysts expect that Phillips 66 will post 11.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.32%. The ex-dividend date was Friday, May 17th. Phillips 66’s payout ratio is currently 35.38%.

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.