TBH Global Asset Management LLC Has $2.21 Million Position in Phillips 66 (NYSE:PSX)

TBH Global Asset Management LLC raised its holdings in Phillips 66 (NYSE:PSX) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,632 shares of the oil and gas company’s stock after acquiring an additional 317 shares during the quarter. TBH Global Asset Management LLC’s holdings in Phillips 66 were worth $2,214,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Phillips 66 by 4.2% in the third quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock valued at $932,447,000 after acquiring an additional 309,239 shares during the last quarter. Morgan Stanley raised its position in shares of Phillips 66 by 2.1% in the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after purchasing an additional 138,646 shares during the period. Northern Trust Corp raised its position in shares of Phillips 66 by 6.2% in the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after purchasing an additional 283,010 shares during the period. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $559,435,000. Finally, Boston Partners raised its position in shares of Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after purchasing an additional 3,494,878 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Raymond James boosted 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 boosted their target price 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. Finally, Piper Sandler reduced their target price on shares of Phillips 66 from $187.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.21.

Phillips 66 Trading Up 0.3 %

Shares of PSX stock traded up $0.49 on Friday, reaching $142.68. The company had a trading volume of 1,241,523 shares, compared to its average volume of 2,806,904. The company has a 50-day moving average of $154.89 and a 200-day moving average of $141.08. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a market cap of $60.49 billion, a PE ratio of 11.04, a PEG ratio of 1.94 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last posted its 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). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the company posted $4.21 earnings per share. On average, equities analysts forecast that Phillips 66 will post 12.26 earnings per share 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 given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.22%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 35.38%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders sold a total of 50,864 shares of company stock valued at $7,567,178 in the last quarter. 0.22% of the stock is currently owned by insiders.

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.