Jacobs Equity LLC Makes New $442,000 Investment in Phillips 66 $PSX

Jacobs Equity LLC bought a new position in Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,428 shares of the oil and gas company’s stock, valued at approximately $442,000.

A number of other hedge funds also recently made changes to their positions in PSX. CrossGen Wealth LLC bought a new stake in shares of Phillips 66 during the fourth quarter worth $274,000. Alpine Woods Capital Investors LLC lifted its stake in shares of Phillips 66 by 2.2% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 10,731 shares of the oil and gas company’s stock valued at $1,385,000 after acquiring an additional 231 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Phillips 66 by 29.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 110,827 shares of the oil and gas company’s stock valued at $14,301,000 after acquiring an additional 25,240 shares in the last quarter. Beacon Pointe Advisors LLC boosted its holdings in shares of Phillips 66 by 43.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 39,298 shares of the oil and gas company’s stock valued at $5,071,000 after acquiring an additional 11,881 shares in the last quarter. Finally, FAS Wealth Partners Inc. grew its position in Phillips 66 by 25.7% during the 4th quarter. FAS Wealth Partners Inc. now owns 6,132 shares of the oil and gas company’s stock worth $791,000 after acquiring an additional 1,253 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,629 shares of company stock worth $8,071,540 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

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 debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $66.61 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.24 and a beta of 0.68. The business has a 50-day moving average of $171.98 and a 200-day moving average of $158.88.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the prior year, the business posted ($0.90) earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Phillips 66 will post 18.22 earnings per share for the current year.

Phillips 66 Dividend Announcement

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

Analyst Ratings Changes

PSX has been the subject of several research reports. Jefferies Financial Group increased their target price on Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. TD Cowen boosted their price target on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. The Goldman Sachs Group upped their price objective on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. Scotiabank raised their price objective on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Citigroup lifted their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.33.

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.