CFO Capital Management LLC Makes New Investment in Phillips 66 $PSX

CFO Capital Management LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 3,125 shares of the oil and gas company’s stock, valued at approximately $403,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSX. Board of the Pension Protection Fund purchased a new position in Phillips 66 during the 4th quarter worth $26,000. Accordant Advisory Group Inc raised its holdings in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares during the period. Eagle Bay Advisors LLC bought a new position in Phillips 66 during the fourth quarter worth about $27,000. SWAN Capital LLC raised its stake in shares of Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Finally, Stephens Consulting LLC boosted its position in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 45,629 shares of company stock valued at $8,071,540 over the last three months. Insiders own 0.40% of the company’s stock.

Phillips 66 Trading Down 0.0%

Shares of Phillips 66 stock opened at $166.13 on Friday. The company’s fifty day simple moving average is $171.94 and its 200-day simple moving average is $158.93. Phillips 66 has a 1-year low of $118.00 and a 1-year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market capitalization of $66.61 billion, a PE ratio of 16.37, a P/E/G ratio of 0.24 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.90) EPS. As a group, equities analysts anticipate that Phillips 66 will post 18.22 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 3.1%. Phillips 66’s dividend payout ratio is currently 50.05%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PSX shares. Wolfe Research upped their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. TD Cowen upped 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. Barclays increased their target price on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Finally, Piper Sandler lifted their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.33.

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.