Phillips 66 $PSX Shares Acquired by Royal Fund Management LLC

Royal Fund Management LLC grew its position in Phillips 66 (NYSE:PSX) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,901 shares of the oil and gas company’s stock after acquiring an additional 9,214 shares during the quarter. Royal Fund Management LLC’s holdings in Phillips 66 were worth $6,958,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Jaffetilchin Investment Partners LLC boosted its stake in Phillips 66 by 5.2% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 1,864 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 92 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Phillips 66 by 3.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 139,014 shares of the oil and gas company’s stock worth $18,151,000 after buying an additional 4,405 shares in the last quarter. apricus wealth LLC raised its position in shares of Phillips 66 by 5.3% in the fourth quarter. apricus wealth LLC now owns 2,000 shares of the oil and gas company’s stock valued at $258,000 after buying an additional 100 shares during the last quarter. J. Safra Sarasin Holding AG raised its position in shares of Phillips 66 by 15.0% in the fourth quarter. J. Safra Sarasin Holding AG now owns 5,608 shares of the oil and gas company’s stock valued at $724,000 after buying an additional 733 shares during the last quarter. Finally, MOR Wealth Management LLC purchased a new position in shares of Phillips 66 in the fourth quarter worth about $219,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent research reports. Wolfe Research boosted their price target on shares of Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Raymond James Financial increased their price objective on shares of Phillips 66 from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. The Goldman Sachs Group upped their price target on Phillips 66 from $168.00 to $186.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, Piper Sandler increased their price target on Phillips 66 from $153.00 to $156.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $164.00.

Insider Transactions at Phillips 66

In related news, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the transaction, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 84,688 shares of company stock valued at $14,066,145 in the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Trading Down 1.8%

Shares of PSX opened at $184.84 on Tuesday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $190.61. The firm has a market capitalization of $74.07 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.35 and a beta of 0.86. The firm has a 50-day moving average price of $160.17 and a 200 day moving average price of $143.83. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period in the previous year, the firm earned ($0.15) earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, February 23rd. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio is presently 46.95%.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.