Aspiriant LLC Purchases New Position in Phillips 66 (NYSE:PSX)

Aspiriant LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,637 shares of the oil and gas company’s stock, valued at approximately $267,000.

Several other hedge funds have also added to or reduced their stakes in PSX. Key Client Fiduciary Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $293,000. Sovereign Financial Group Inc. lifted its position in shares of Phillips 66 by 9.1% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,856 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 155 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Phillips 66 during the 1st quarter valued at $82,000. Brookstone Capital Management lifted its position in shares of Phillips 66 by 6.7% during the 1st quarter. Brookstone Capital Management now owns 23,076 shares of the oil and gas company’s stock valued at $3,769,000 after acquiring an additional 1,450 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in shares of Phillips 66 by 87.4% during the 1st quarter. Sunbelt Securities Inc. now owns 2,983 shares of the oil and gas company’s stock valued at $487,000 after acquiring an additional 1,391 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now 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 through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on PSX shares. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Scotiabank upped their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Bank of America upped their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Mizuho cut their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, Argus reissued a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.79.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $139.77 on Thursday. 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 firm has a market capitalization of $59.26 billion, a P/E ratio of 10.75, a P/E/G ratio of 2.08 and a beta of 1.37. The business has a fifty day simple moving average of $143.81 and a two-hundred day simple moving average of $144.53. Phillips 66 has a 12 month low of $91.18 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last issued 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). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the business earned $4.21 earnings per share. On average, equities analysts forecast that Phillips 66 will post 11.22 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 3rd. Investors of record on Monday, May 20th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.29%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

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.