Jackson Hole Capital Partners LLC Raises Stake in Phillips 66 (NYSE:PSX)

Jackson Hole Capital Partners LLC raised its position in Phillips 66 (NYSE:PSX) by 45.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,874 shares of the oil and gas company’s stock after acquiring an additional 1,527 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in Phillips 66 were worth $649,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PSX. International Assets Investment Management LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth approximately $254,336,000. Bank of New York Mellon Corp lifted its position in shares of Phillips 66 by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock worth $549,156,000 after buying an additional 502,785 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in shares of Phillips 66 by 41.2% during the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock worth $181,049,000 after buying an additional 439,360 shares during the last quarter. Acadian Asset Management LLC raised its position in Phillips 66 by 1,038.3% in the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after purchasing an additional 430,723 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Phillips 66 by 53.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after purchasing an additional 421,714 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PSX shares. Scotiabank upped their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Barclays upped 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 report on Thursday, April 18th. Finally, The Goldman Sachs Group upped their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $158.00.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

PSX traded down $5.72 during trading on Friday, hitting $151.52. The stock had a trading volume of 4,206,722 shares, compared to its average volume of 2,976,116. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The firm has a market capitalization of $64.82 billion, a P/E ratio of 9.79, a PEG ratio of 1.91 and a beta of 1.37. The company’s 50-day moving average price is $155.40 and its 200 day moving average price is $136.60.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.70). Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same quarter last year, the firm earned $4.21 EPS. On average, equities research analysts forecast that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.04%. Phillips 66’s dividend payout ratio is 27.15%.

About Phillips 66

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.