TCG Advisory Services LLC Boosts Holdings in Phillips 66 (NYSE:PSX)

TCG Advisory Services LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 1,000.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 107,958 shares of the oil and gas company’s stock after buying an additional 98,147 shares during the quarter. Phillips 66 comprises approximately 1.0% of TCG Advisory Services LLC’s portfolio, making the stock its 21st largest position. TCG Advisory Services LLC’s holdings in Phillips 66 were worth $14,374,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PSX. DekaBank Deutsche Girozentrale raised its holdings in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after buying an additional 22,278 shares during the period. Eldred Rock Partners LLC purchased a new stake in Phillips 66 in the 4th quarter valued at about $10,402,000. Choate Investment Advisors purchased a new stake in Phillips 66 in the 3rd quarter valued at about $247,000. First Dallas Securities Inc. purchased a new stake in Phillips 66 in the 3rd quarter valued at about $753,000. Finally, TIAA Trust National Association raised its holdings in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after buying an additional 3,670 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PSX. Scotiabank boosted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Mizuho cut their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

Insider Activity at Phillips 66

In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on 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 completion of the sale, 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. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last three months. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Down 0.2 %

Shares of PSX stock traded down $0.26 during trading hours on Friday, reaching $143.61. 1,806,203 shares of the stock were exchanged, compared to its average volume of 2,353,122. The business’s fifty day moving average is $155.55 and its two-hundred day moving average is $138.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.02. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The firm has a market capitalization of $60.88 billion, a P/E ratio of 11.05, a P/E/G 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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period last year, the company earned $4.21 earnings per share. As a group, research analysts expect that Phillips 66 will post 13.17 EPS for the current fiscal 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 issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.20%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is 32.31%.

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.