274 Shares in Phillips 66 (NYSE:PSX) Bought by Gladius Capital Management LP

Gladius Capital Management LP bought a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, HoldingsChannel reports. The fund bought 274 shares of the oil and gas company’s stock, valued at approximately $36,000.

Other institutional investors have also recently made changes to their positions in the company. Cardinal Capital Management increased its stake in Phillips 66 by 0.3% in the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after buying an additional 77 shares during the period. Aaron Wealth Advisors LLC grew its stake in Phillips 66 by 3.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 82 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Phillips 66 by 3.9% during the fourth quarter. Benjamin Edwards Inc. now owns 2,271 shares of the oil and gas company’s stock worth $302,000 after acquiring an additional 85 shares during the period. Cornerstone Wealth Management LLC raised its stake in shares of Phillips 66 by 1.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after acquiring an additional 86 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Phillips 66 by 2.2% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,186 shares of the oil and gas company’s stock valued at $557,000 after purchasing an additional 89 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Piper Sandler increased their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Citigroup assumed coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating on the stock. Scotiabank increased their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Mizuho lowered their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $0.78 during trading on Thursday, hitting $147.72. 2,161,848 shares of the company’s stock were exchanged, compared to its average volume of 2,931,820. The stock has a market capitalization of $62.63 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.82 and a beta of 1.41. The business has a 50-day simple moving average of $155.60 and a 200-day simple moving average of $138.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the prior year, the firm earned $4.21 earnings per share. On average, research analysts forecast that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.11%. Phillips 66’s dividend payout ratio is currently 32.31%.

Phillips 66 Profile

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.