Annex Advisory Services LLC Acquires 18,002 Shares of Phillips 66 (NYSE:PSX)

Annex Advisory Services LLC boosted its holdings in shares of Phillips 66 (NYSE:PSXFree Report) by 17.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,608 shares of the oil and gas company’s stock after purchasing an additional 18,002 shares during the quarter. Annex Advisory Services LLC’s holdings in Phillips 66 were worth $19,864,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Gateway Investment Advisers LLC boosted its stake in Phillips 66 by 19.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 11,705 shares of the oil and gas company’s stock valued at $1,912,000 after purchasing an additional 1,934 shares during the period. Strategic Planning Group LLC lifted its position in shares of Phillips 66 by 14.8% during the 1st quarter. Strategic Planning Group LLC now owns 18,774 shares of the oil and gas company’s stock worth $3,067,000 after buying an additional 2,414 shares during the period. Global Assets Advisory LLC bought a new position in shares of Phillips 66 during the 1st quarter worth approximately $4,696,000. Southland Equity Partners LLC increased its holdings in Phillips 66 by 16.1% during the 1st quarter. Southland Equity Partners LLC now owns 2,360 shares of the oil and gas company’s stock valued at $385,000 after purchasing an additional 328 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in Phillips 66 by 3.9% during the 1st quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company’s stock valued at $476,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.5 %

Shares of PSX stock traded down $0.63 on Tuesday, hitting $137.92. 536,006 shares of the stock were exchanged, compared to its average volume of 2,740,337. 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 firm has a market capitalization of $58.47 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The business has a 50-day moving average of $144.16 and a 200 day moving average of $144.43. Phillips 66 has a fifty-two week low of $90.86 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share 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 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 earnings per share. Equities analysts anticipate that Phillips 66 will post 11.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders 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. This represents a $4.60 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Argus reaffirmed a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. The Goldman Sachs Group boosted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Scotiabank boosted their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Barclays dropped their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.79.

Get Our Latest Report on PSX

Insider Transactions at Phillips 66

In related 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 transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by insiders.

Phillips 66 Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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