Patton Albertson Miller Group LLC Purchases 182 Shares of Phillips 66 (NYSE:PSX)

Patton Albertson Miller Group LLC grew its position in Phillips 66 (NYSE:PSX) by 10.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,862 shares of the oil and gas company’s stock after acquiring an additional 182 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Phillips 66 were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Mackenzie Financial Corp lifted its position in Phillips 66 by 2.0% during the third quarter. Mackenzie Financial Corp now owns 40,454 shares of the oil and gas company’s stock valued at $4,678,000 after purchasing an additional 810 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Phillips 66 by 10.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,428 shares of the oil and gas company’s stock valued at $16,031,000 after acquiring an additional 12,181 shares during the last quarter. Advisor Partners II LLC grew its position in Phillips 66 by 4.9% in the third quarter. Advisor Partners II LLC now owns 20,331 shares of the oil and gas company’s stock worth $2,443,000 after acquiring an additional 956 shares in the last quarter. Keel Point LLC bought a new stake in Phillips 66 during the third quarter worth approximately $201,000. Finally, Graypoint LLC purchased a new stake in Phillips 66 during the third quarter valued at approximately $347,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 0.5 %

NYSE:PSX traded up $0.78 during mid-day trading on Thursday, reaching $147.72. The company’s stock had a trading volume of 2,161,848 shares, compared to its average volume of 2,931,820. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The stock has a fifty day moving average of $155.60 and a 200-day moving average of $138.84. The firm has a market capitalization of $62.63 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last announced its quarterly 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 business had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the previous year, the company posted $4.21 EPS. Equities research analysts forecast that Phillips 66 will post 13.17 earnings per share for the current 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 issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is an increase 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 3.11%. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Analyst Ratings Changes

Several research firms have recently weighed in on PSX. Barclays cut their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Piper Sandler raised their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group boosted their target price on 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 issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated 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 owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The stock was 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 approximately $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction 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 owns 6,583 shares in the company, valued at $1,035,242.58. 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. Corporate insiders own 0.22% of the company’s stock.

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.