Phillips 66 (NYSE:PSX) Shares Purchased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 19.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,705 shares of the oil and gas company’s stock after buying an additional 1,934 shares during the period. Gateway Investment Advisers LLC’s holdings in Phillips 66 were worth $1,912,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new position in Phillips 66 during the fourth quarter worth $27,000. First United Bank & Trust purchased a new position in Phillips 66 during the fourth quarter worth $31,000. Rise Advisors LLC purchased a new position in Phillips 66 during the first quarter worth $40,000. Signature Resources Capital Management LLC purchased a new position in Phillips 66 during the fourth quarter worth $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.5 %

Shares of PSX traded down $0.63 during midday trading on Tuesday, reaching $137.92. 536,006 shares of the company were exchanged, compared to its average volume of 2,740,337. The stock has a 50-day moving average price of $144.16 and a 200-day moving average price of $144.43. The company has a market cap of $58.47 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.95 and a beta of 1.37. Phillips 66 has a 1-year low of $90.86 and a 1-year 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.

Phillips 66 (NYSE:PSXGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company 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 quarter in the prior year, the firm earned $4.21 EPS. Research analysts expect that Phillips 66 will post 11.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.34%. Phillips 66’s payout ratio is 35.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Scotiabank lifted their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Raymond James lowered their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Finally, Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.79.

Get Our Latest Research Report on PSX

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.

About Phillips 66

(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.

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

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