Hilton Head Capital Partners LLC Buys New Position in Phillips 66 $PSX

Hilton Head Capital Partners LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,710 shares of the oil and gas company’s stock, valued at approximately $479,000.

Several other large investors have also added to or reduced their stakes in PSX. Board of the Pension Protection Fund purchased a new position in Phillips 66 during the fourth quarter valued at approximately $26,000. Accordant Advisory Group Inc lifted its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. Stephens Consulting LLC lifted its holdings in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in Phillips 66 during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of several analyst reports. Barclays lifted their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Citigroup lifted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. Finally, Jefferies Financial Group boosted their target price on shares of Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $191.28.

Phillips 66 Price Performance

PSX stock opened at $183.30 on Monday. Phillips 66 has a one year low of $112.95 and a one year high of $190.61. The company’s fifty day moving average price is $172.76 and its 200-day moving average price is $156.30. 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 company has a market capitalization of $73.49 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 0.27 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 the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the previous year, the firm earned ($0.90) earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. Phillips 66’s dividend payout ratio is presently 50.05%.

Insider Buying and Selling at Phillips 66

In related news, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 92,229 shares of company stock worth $15,990,030 in the last ninety days. Company insiders own 0.40% of the company’s stock.

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.