Gilliland Jeter Wealth Management LLC Acquires New Shares in Phillips 66 (NYSE:PSX)

Gilliland Jeter Wealth Management LLC bought a new position in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,830 shares of the oil and gas company’s stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. Cornerstone Planning Group LLC raised its position in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 during the fourth quarter worth about $36,000. Bell Investment Advisors Inc grew its stake in Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares during the last quarter. West Branch Capital LLC grew its stake in Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the last quarter. Finally, Headinvest LLC bought a new stake in Phillips 66 during the third quarter worth about $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on PSX shares. Mizuho decreased their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Raymond James increased their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Wells Fargo & Company increased their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Barclays increased their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $158.00.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease acquired 682 shares of the stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert W. Pease acquired 682 shares of the stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 3.7 %

PSX traded down $5.83 during mid-day trading on Friday, hitting $151.41. The stock had a trading volume of 4,206,800 shares, compared to its average volume of 2,131,287. The stock’s fifty day simple moving average is $155.55 and its 200-day simple moving average is $136.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The firm has a market capitalization of $64.78 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. Phillips 66 has a 1-year low of $89.74 and a 1-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 firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same quarter last year, the business posted $4.21 earnings per share. As a group, research analysts forecast that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.04%. Phillips 66’s dividend payout ratio is currently 29.73%.

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.