Alpha Cubed Investments LLC Invests $244,000 in Phillips 66 (NYSE:PSX)

Alpha Cubed Investments LLC bought a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, Holdings Channel reports. The institutional investor bought 1,835 shares of the oil and gas company’s stock, valued at approximately $244,000.

Several other hedge funds also recently modified their holdings of PSX. Cardinal Capital Management raised its holdings in Phillips 66 by 0.3% in the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after acquiring an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Phillips 66 by 3.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 82 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in Phillips 66 by 1.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after purchasing an additional 86 shares during the period. Stratos Wealth Partners LTD. increased its position in Phillips 66 by 0.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock worth $2,958,000 after purchasing an additional 90 shares during the last quarter. Finally, West Branch Capital LLC raised its stake in Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 91 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 over the last quarter. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PSX shares. The Goldman Sachs Group upped their price objective on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Raymond James increased their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Scotiabank raised their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Piper Sandler increased their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Trading Down 2.1 %

NYSE PSX opened at $140.17 on Thursday. The company’s fifty day moving average price is $155.67 and its two-hundred day moving average price is $137.76. The company has a market capitalization of $59.43 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.02.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates 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 company earned $4.21 EPS. As a group, research analysts predict that Phillips 66 will post 13.13 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. 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 dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 32.31%.

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.