Aviance Capital Partners LLC Acquires 4,245 Shares of Phillips 66 (NYSE:PSX)

Aviance Capital Partners LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 268.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,828 shares of the oil and gas company’s stock after purchasing an additional 4,245 shares during the period. Aviance Capital Partners LLC’s holdings in Phillips 66 were worth $952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 during the fourth quarter worth about $27,000. First United Bank & Trust acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $31,000. Signature Resources Capital Management LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth approximately $33,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $36,000. Finally, Gladius Capital Management LP bought a new position in shares of Phillips 66 in the fourth quarter valued at $36,000. 76.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred 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 owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $140.93 on Tuesday. Phillips 66 has a 12-month low of $94.51 and a 12-month high of $174.08. The firm has a 50-day moving average price of $142.91 and a two-hundred day moving average price of $144.83. The company has a market capitalization of $59.75 billion, a P/E ratio of 10.84, a P/E/G ratio of 2.12 and a beta of 1.34. 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 issued its quarterly 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). The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the prior year, the company earned $4.21 EPS. Analysts anticipate that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.26%. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays decreased their price objective on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a research report on Monday. Argus reiterated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Mizuho dropped their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Wells Fargo & Company raised their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. boosted their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Five 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, the company currently has an average rating of “Moderate Buy” and an average target price of $157.43.

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.