Key Client Fiduciary Advisors LLC Buys Shares of 1,795 Phillips 66 (NYSE:PSX)

Key Client Fiduciary Advisors LLC purchased a new position in Phillips 66 (NYSE:PSX) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,795 shares of the oil and gas company’s stock, valued at approximately $293,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Phillips 66 in the fourth quarter valued at approximately $559,435,000. Boston Partners increased its position in shares of Phillips 66 by 962.0% in the 4th 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 in the last quarter. International Assets Investment Management LLC acquired a new stake in Phillips 66 during the 4th quarter worth $254,336,000. Wellington Management Group LLP lifted its holdings in Phillips 66 by 20.3% during the fourth 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 acquiring an additional 1,842,226 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in Phillips 66 by 4,556.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock valued at $126,885,000 after acquiring an additional 932,552 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.3 %

PSX stock opened at $139.40 on Friday. The company has a market cap of $59.10 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 2.08 and a beta of 1.37. Phillips 66 has a twelve month low of $91.78 and a twelve month high of $174.08. The business has a 50 day moving average price of $143.46 and a two-hundred day moving average price of $144.50. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last released its 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 firm 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 prior year, the business posted $4.21 earnings per share. Analysts anticipate that Phillips 66 will post 11.22 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a dividend of $1.15 per share. The ex-dividend date was Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.30%. Phillips 66’s payout ratio is currently 35.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Raymond James dropped their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Piper Sandler cut their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Argus reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research report on Thursday, May 30th. Finally, Mizuho lowered their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.79.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is owned by company insiders.

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.