Everpar Advisors LLC Purchases New Shares in Phillips 66 (NYSE:PSX)

Everpar Advisors LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, Holdings Channel.com reports. The fund purchased 6,880 shares of the oil and gas company’s stock, valued at approximately $916,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its holdings in Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after purchasing an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC bought a new position in Phillips 66 in the 4th quarter valued at $10,402,000. Choate Investment Advisors bought a new position in Phillips 66 in the 3rd quarter valued at $247,000. First Dallas Securities Inc. bought a new position in Phillips 66 in the 3rd quarter valued at $753,000. Finally, TIAA Trust National Association boosted its position in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after buying an additional 3,670 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Up 1.2 %

PSX stock traded up $1.73 during midday trading on Wednesday, hitting $146.94. 2,915,394 shares of the company’s stock were exchanged, compared to its average volume of 2,940,190. The stock’s fifty day moving average price is $155.48 and its 200-day moving average price is $138.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market cap of $62.30 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. Phillips 66 has a one year low of $89.74 and a one year 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 for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the prior year, the firm posted $4.21 earnings per share. Research analysts predict that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.13%. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PSX. Piper Sandler increased their price objective on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company raised their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert W. Pease bought 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last 90 days. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Company 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.