Phillips 66 (NYSE:PSX) Shares Bought by Addison Advisors LLC

Addison Advisors LLC raised its holdings in Phillips 66 (NYSE:PSX) by 94.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,368 shares of the oil and gas company’s stock after purchasing an additional 666 shares during the period. Addison Advisors LLC’s holdings in Phillips 66 were worth $182,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted its stake in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth approximately $36,000. Bell Investment Advisors Inc boosted its stake in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares during the last quarter. West Branch Capital LLC boosted its stake in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares during the last quarter. Finally, Headinvest LLC acquired a new stake in shares of Phillips 66 in the third quarter worth approximately $51,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PSX shares. Raymond James lifted their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Scotiabank lifted their price objective on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Citigroup initiated coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Insider Activity at Phillips 66

In related news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The stock was 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 owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 transaction of $1,132,272.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Trading Down 3.7 %

NYSE:PSX traded down $5.83 on Friday, reaching $151.41. The company’s stock had a trading volume of 4,206,800 shares, compared to its average volume of 2,131,287. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm has a market cap 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 12-month low of $89.74 and a 12-month high of $174.08. The stock has a 50 day moving average price of $155.55 and a 200 day moving average price of $136.88.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) 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 analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. During the same quarter in the prior year, the firm posted $4.21 EPS. On average, equities analysts anticipate that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

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

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.