Register Financial Advisors LLC Purchases New Position in Phillips 66 (NYSE:PSX)

Register Financial Advisors LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,079 shares of the oil and gas company’s stock, valued at approximately $176,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in Phillips 66 in the fourth quarter valued at $27,000. First United Bank & Trust purchased a new stake in Phillips 66 in the fourth quarter valued at $31,000. Signature Resources Capital Management LLC purchased a new stake in Phillips 66 in the fourth quarter valued at $33,000. Bruce G. Allen Investments LLC acquired a new position in Phillips 66 in the fourth quarter valued at $36,000. Finally, Gladius Capital Management LP acquired a new position in Phillips 66 in the fourth quarter valued at $36,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Phillips 66 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 value of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on PSX shares. Argus restated a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. The Goldman Sachs Group lifted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. TD Cowen dropped their price objective on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Barclays dropped their price objective on shares of 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. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $157.79.

Phillips 66 Trading Up 1.3 %

Shares of PSX opened at $141.17 on Friday. 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’s 50-day moving average is $142.91 and its two-hundred day moving average is $144.57. Phillips 66 has a twelve month low of $93.40 and a twelve month high of $174.08. The firm has a market capitalization of $59.85 billion, a P/E ratio of 10.86, a PEG ratio of 2.10 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued 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). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the previous year, the company posted $4.21 earnings per share. On average, research analysts predict that Phillips 66 will post 11.08 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. Shareholders of record on Monday, May 20th were given a dividend of $1.15 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.26%. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio is presently 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.