Sequoia Financial Advisors LLC Acquires 5,940 Shares of Phillips 66 $PSX

Sequoia Financial Advisors LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 19.4% in the fourth quarter, HoldingsChannel reports. The fund owned 36,616 shares of the oil and gas company’s stock after purchasing an additional 5,940 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Phillips 66 were worth $4,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Oppenheimer & Co. Inc. boosted its position in shares of Phillips 66 by 57.4% in the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after purchasing an additional 20,742 shares during the period. First National Bank of Omaha bought a new position in shares of Phillips 66 in the third quarter worth approximately $2,357,000. TD Asset Management Inc boosted its position in shares of Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock worth $23,724,000 after purchasing an additional 23,364 shares during the period. Caprock Group LLC bought a new position in shares of Phillips 66 in the third quarter worth approximately $2,412,000. Finally, National Pension Service boosted its position in shares of Phillips 66 by 3.5% in the third quarter. National Pension Service now owns 602,099 shares of the oil and gas company’s stock worth $81,898,000 after purchasing an additional 20,213 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Mizuho upped their price target on shares of Phillips 66 from $152.00 to $170.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Piper Sandler upped their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Finally, Argus upped their price target on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $184.50.

Phillips 66 Price Performance

PSX stock opened at $171.42 on Friday. Phillips 66 has a one year low of $109.39 and a one year high of $190.61. The company’s fifty day moving average price is $168.80 and its 200-day moving average price is $150.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $68.73 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 0.25 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the previous year, the firm earned ($0.90) earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 will post 17.39 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, May 18th. Phillips 66’s payout ratio is currently 50.05%.

Insider Activity at Phillips 66

In related news, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin J. Mitchell sold 15,629 shares of the company’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $190.07, for a total transaction of $2,970,604.03. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,508,256.32. The trade was a 13.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 91,529 shares of company stock valued at $15,740,519 over the last quarter. 0.40% of the stock is currently owned by insiders.

Phillips 66 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.