Phillips 66 (NYSE:PSX) Shares Acquired by West Paces Advisors Inc.

West Paces Advisors Inc. increased its position in shares of Phillips 66 (NYSE:PSX) by 31.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,343 shares of the oil and gas company’s stock after acquiring an additional 1,043 shares during the period. West Paces Advisors Inc.’s holdings in Phillips 66 were worth $578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its holdings in Phillips 66 by 100,843.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock worth $1,038,646,000 after buying an additional 9,969,418 shares in the last quarter. Barclays PLC grew its holdings in shares of Phillips 66 by 416.9% in the 2nd quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock worth $710,721,000 after acquiring an additional 6,009,826 shares during the last quarter. Norges Bank acquired a new stake in shares of Phillips 66 during the fourth quarter worth $364,237,000. Wellington Management Group LLP boosted its position in shares of Phillips 66 by 62.1% in the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after purchasing an additional 2,753,700 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Phillips 66 in the 4th quarter worth about $254,336,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. Citigroup started coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Wells Fargo & Company raised their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Raymond James increased their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.86.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Down 1.8 %

Shares of NYSE:PSX traded down $2.94 on Tuesday, reaching $157.88. The company had a trading volume of 1,863,792 shares, compared to its average volume of 3,039,155. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $67.54 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.05 and a beta of 1.37. The stock has a 50-day moving average price of $153.64 and a 200 day moving average price of $134.51. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. On average, equities analysts expect that Phillips 66 will post 13.2 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.91%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is 27.15%.

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.