NewSquare Capital LLC Raises Stake in Phillips 66 (NYSE:PSX)

NewSquare Capital LLC increased its stake in Phillips 66 (NYSE:PSX) by 1.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 48,907 shares of the oil and gas company’s stock after acquiring an additional 794 shares during the quarter. NewSquare Capital LLC’s holdings in Phillips 66 were worth $6,425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Phillips 66 by 4.2% during the third quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after acquiring an additional 309,239 shares during the period. Morgan Stanley raised its position in Phillips 66 by 2.1% during the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after purchasing an additional 138,646 shares in the last quarter. Northern Trust Corp raised its position in Phillips 66 by 6.2% during the 3rd quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after purchasing an additional 283,010 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 12.4% in 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 period. Finally, Envestnet Asset Management Inc. grew its position in shares of Phillips 66 by 21.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock worth $233,909,000 after buying an additional 350,211 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSX. Piper Sandler lifted their price objective on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Mizuho lowered their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Bank of America lifted their price objective 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. Scotiabank upped their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Barclays boosted their price target on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Phillips 66 Stock Up 1.2 %

PSX stock traded up $1.85 during trading on Tuesday, hitting $158.90. 1,756,098 shares of the company’s stock were exchanged, compared to its average volume of 2,978,153. The stock has a market capitalization of $67.98 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.92 and a beta of 1.37. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $154.65 and a two-hundred day moving average price of $135.96.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. As a group, equities research analysts expect that Phillips 66 will post 13.45 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 2.89%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 27.15%.

Insider Buying and Selling at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s 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 completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by company insiders.

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.