HighTower Advisors LLC Increases Holdings in Phillips 66 $PSX

HighTower Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 363,528 shares of the oil and gas company’s stock after acquiring an additional 4,463 shares during the quarter. HighTower Advisors LLC’s holdings in Phillips 66 were worth $49,447,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Heck Capital Advisors LLC boosted its holdings in shares of Phillips 66 by 1.2% in the third quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after acquiring an additional 75 shares during the period. Portside Wealth Group LLC increased its position in Phillips 66 by 3.8% during the 3rd quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 75 shares during the period. Welch & Forbes LLC grew its holdings in Phillips 66 by 1.1% during the third quarter. Welch & Forbes LLC now owns 7,123 shares of the oil and gas company’s stock worth $969,000 after acquiring an additional 76 shares during the period. Magnus Financial Group LLC boosted its position in shares of Phillips 66 by 2.5% during the 3rd quarter. Magnus Financial Group LLC now owns 3,160 shares of the oil and gas company’s stock worth $430,000 after purchasing an additional 77 shares in the last quarter. Finally, Hemington Wealth Management boosted its holdings in Phillips 66 by 15.7% during the third quarter. Hemington Wealth Management now owns 576 shares of the oil and gas company’s stock worth $78,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Wells Fargo & Company increased their price target on Phillips 66 from $162.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a research report on Friday, February 6th. Finally, Citigroup boosted their price objective on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Phillips 66 has an average rating of “Hold” and an average target price of $158.72.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 25,500 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This trade represents a 30.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the completion of the sale, the executive vice president owned 25,799 shares in the company, valued at approximately $3,869,850. This represents a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 34,288 shares of company stock valued at $4,867,250. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 1.0%

Shares of NYSE:PSX opened at $158.11 on Wednesday. The firm has a market cap of $63.71 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.56 and a beta of 0.90. The company has a fifty day simple moving average of $141.17 and a 200 day simple moving average of $135.45. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $163.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. The business had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. During the same quarter last year, the company posted ($0.15) earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a $1.27 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 3.2%. Phillips 66’s dividend payout ratio (DPR) is 44.36%.

About Phillips 66

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.