Fractal Investments LLC Purchases New Position in Phillips 66 (NYSE:PSX)

Fractal Investments LLC bought a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, Holdings Channel reports. The institutional investor bought 2,500 shares of the oil and gas company’s stock, valued at approximately $333,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Cardinal Capital Management raised its stake in shares of 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 valued at $3,104,000 after acquiring an additional 77 shares during the period. Aaron Wealth Advisors LLC raised its stake in shares of 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 valued at $312,000 after acquiring an additional 82 shares during the period. Cornerstone Wealth Management LLC raised its stake in shares of Phillips 66 by 1.3% in the 4th 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 during the period. Stratos Wealth Partners LTD. raised its stake in shares of Phillips 66 by 0.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after acquiring an additional 90 shares during the period. Finally, West Branch Capital LLC raised its stake in shares of Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research reports. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Bank of America raised their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Scotiabank raised their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Insider Activity

In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 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 in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last three months, insiders sold 35,056 shares of company stock valued at $5,272,681. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $1.02 during midday trading on Wednesday, hitting $157.82. The company’s stock had a trading volume of 1,944,590 shares, compared to its average volume of 2,965,071. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The firm’s fifty day moving average price is $155.18 and its 200-day moving average price is $136.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The firm has a market cap of $67.52 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The business had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. On average, sell-side analysts forecast that Phillips 66 will post 13.45 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.91%. Phillips 66’s payout ratio is 27.15%.

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.