Hennion & Walsh Asset Management Inc. Has $1.76 Million Position in Phillips 66 (NYSE:PSX)

Hennion & Walsh Asset Management Inc. boosted its position in Phillips 66 (NYSE:PSX) by 48.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,758 shares of the oil and gas company’s stock after buying an additional 3,524 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Phillips 66 were worth $1,757,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after purchasing an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC bought a new stake in Phillips 66 during the 4th quarter worth about $10,402,000. TIAA Trust National Association boosted its stake in shares of Phillips 66 by 32.9% during the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after acquiring an additional 10,536 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after acquiring an additional 36,116 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. TD Cowen reduced their price target on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Mizuho lowered their target price 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. The Goldman Sachs Group increased their price target 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. Piper Sandler lowered their price objective 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. Finally, StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $157.79.

Phillips 66 Stock Performance

PSX opened at $141.17 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market capitalization of $59.85 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37. The business has a fifty day simple moving average of $142.91 and a 200 day simple moving average of $144.70. Phillips 66 has a 1 year low of $93.40 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results 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). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the firm posted $4.21 EPS. Research analysts expect that Phillips 66 will post 11.08 EPS for the current year.

Phillips 66 Increases Dividend

The firm 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 represents a $4.60 dividend on an annualized basis and a dividend yield of 3.26%. 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 is presently 35.38%.

Insider Transactions at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.22% of the company’s stock.

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.