Mirador Capital Partners LP Raises Position in Phillips 66 (NYSE:PSX)

Mirador Capital Partners LP raised its holdings in shares of Phillips 66 (NYSE:PSX) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,997 shares of the oil and gas company’s stock after acquiring an additional 510 shares during the quarter. Phillips 66 makes up 1.4% of Mirador Capital Partners LP’s portfolio, making the stock its 15th largest holding. Mirador Capital Partners LP’s holdings in Phillips 66 were worth $7,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at $27,000. First United Bank & Trust bought a new stake in Phillips 66 in the 4th quarter valued at $31,000. Signature Resources Capital Management LLC bought a new stake in Phillips 66 in the 4th quarter valued at $33,000. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 in the 4th quarter valued at $36,000. Finally, Gladius Capital Management LP bought a new stake in Phillips 66 in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports 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, June 21st. The Goldman Sachs Group lifted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Scotiabank boosted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Raymond James lowered their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Finally, Argus reissued a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.79.

Insider Buying and Selling at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on 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 sale, the executive vice president now directly 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 is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded up $0.67 during trading on Monday, hitting $141.84. The stock had a trading volume of 77,952 shares, compared to its average volume of 2,772,762. 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 has a 12-month low of $94.51 and a 12-month high of $174.08. The stock has a market capitalization of $60.13 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 2.12 and a beta of 1.34. The stock has a 50-day simple moving average of $142.91 and a two-hundred day simple moving average of $144.83.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the previous year, the business posted $4.21 EPS. On average, equities research analysts expect that Phillips 66 will post 11.08 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a $1.15 dividend. The ex-dividend date was Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.24%. Phillips 66’s 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.