Impact Partnership Wealth LLC Acquires Shares of 4,383 Phillips 66 $PSX

Impact Partnership Wealth LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,383 shares of the oil and gas company’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $640,206,000. Eurizon SLJ Capital Ltd purchased a new stake in Phillips 66 during the 4th quarter valued at $91,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Phillips 66 in the 4th quarter worth $8,371,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Phillips 66 in the 4th quarter worth $701,000. Finally, National Pension Service increased its holdings in shares of Phillips 66 by 2.0% in the 4th quarter. National Pension Service now owns 614,059 shares of the oil and gas company’s stock worth $79,238,000 after purchasing an additional 11,960 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays lifted their target price on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. TD Cowen lifted their target price on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wells Fargo & Company lifted their target price on Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $180.00 target price on shares of Phillips 66 in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.28.

Phillips 66 Trading Down 0.5%

Shares of NYSE:PSX opened at $175.79 on Friday. The stock has a market capitalization of $70.48 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.26 and a beta of 0.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The stock’s 50-day simple moving average is $172.38 and its two-hundred day simple moving average is $154.66. Phillips 66 has a 52-week low of $111.19 and a 52-week high of $190.61.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted ($0.90) earnings per share. Analysts expect that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the transaction, the director directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 114,029 shares of company stock valued at $19,641,455. Company insiders own 0.40% of the company’s stock.

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.