Cutter & CO Brokerage Inc. Increases Position in Phillips 66 (NYSE:PSX)

Cutter & CO Brokerage Inc. lifted its position in shares of Phillips 66 (NYSE:PSX) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,352 shares of the oil and gas company’s stock after acquiring an additional 211 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Phillips 66 were worth $313,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Cornerstone Planning Group LLC lifted its stake in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Phillips 66 during the 4th quarter valued at $36,000. Bell Investment Advisors Inc grew its holdings in Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares in the last quarter. West Branch Capital LLC grew its holdings in Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares in the last quarter. Finally, Headinvest LLC acquired a new position in Phillips 66 during the 3rd quarter worth $51,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Bank of America boosted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Raymond James lifted their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Trading Down 0.8 %

Shares of Phillips 66 stock traded down $1.31 during trading on Wednesday, hitting $157.53. The stock had a trading volume of 840,851 shares, compared to its average volume of 2,950,081. The stock has a 50 day simple moving average of $154.93 and a 200 day simple moving average of $136.31. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The company has a market capitalization of $67.39 billion, a PE ratio of 10.27, a P/E/G ratio of 1.95 and a beta of 1.37. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. On average, research analysts expect that Phillips 66 will post 13.45 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 2.92%. Phillips 66’s payout ratio is 27.15%.

Insider Buying and Selling at Phillips 66

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

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.