Uhlmann Price Securities LLC Increases Holdings in Phillips 66 $PSX

Uhlmann Price Securities LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 135.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,481 shares of the oil and gas company’s stock after purchasing an additional 4,883 shares during the period. Uhlmann Price Securities LLC’s holdings in Phillips 66 were worth $1,555,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PSX. Old North State Trust LLC boosted its position in shares of Phillips 66 by 10.8% in the fourth quarter. Old North State Trust LLC now owns 5,664 shares of the oil and gas company’s stock valued at $731,000 after acquiring an additional 552 shares during the period. Rockefeller Capital Management L.P. grew its stake in Phillips 66 by 5.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 150,396 shares of the oil and gas company’s stock valued at $19,407,000 after acquiring an additional 7,758 shares in the last quarter. World Investment Advisors increased its holdings in Phillips 66 by 5.1% during the 4th quarter. World Investment Advisors now owns 12,407 shares of the oil and gas company’s stock worth $1,601,000 after acquiring an additional 599 shares during the period. Green Ridge Wealth Planning LLC bought a new stake in Phillips 66 during the 4th quarter worth approximately $250,000. Finally, Bayban purchased a new stake in Phillips 66 in the 4th quarter worth approximately $58,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup raised 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. Raymond James Financial upped their price target on shares of Phillips 66 from $215.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Wolfe Research increased their price objective on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Wells Fargo & Company lifted their price objective on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Finally, UBS Group restated a “buy” rating and set a $212.00 target price on shares of Phillips 66 in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $192.33.

Phillips 66 Trading Down 0.0%

Shares of PSX opened at $166.13 on Friday. Phillips 66 has a 1-year low of $118.00 and a 1-year high of $190.61. The company has a market capitalization of $66.61 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.24 and a beta of 0.68. 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 firm’s 50 day simple moving average is $171.94 and its 200 day simple moving average is $158.93.

Phillips 66 (NYSE:PSX) last released its quarterly 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 business had revenue of $32.54 billion during 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 business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.90) EPS. Sell-side analysts forecast that Phillips 66 will post 18.22 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 29,400 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased 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. The trade was a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 45,629 shares of company stock valued at $8,071,540 over the last quarter. 0.40% of the stock is owned by company insiders.

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.