HighTower Advisors LLC Buys 6,058 Shares of Phillips 66 $PSX

HighTower Advisors LLC lifted its stake in Phillips 66 (NYSE:PSX) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 369,586 shares of the oil and gas company’s stock after purchasing an additional 6,058 shares during the period. HighTower Advisors LLC’s holdings in Phillips 66 were worth $47,691,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PSX. Brighton Jones LLC grew its holdings in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Phillips 66 by 28.3% in the second quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after purchasing an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Phillips 66 by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock worth $41,359,000 after purchasing an additional 28,988 shares during the last quarter. Finally, Glenview Trust co lifted its stake in Phillips 66 by 2.6% in the second quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after acquiring an additional 229 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on PSX shares. Scotiabank raised their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group upped their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Tuesday. Raymond James Financial upped their price target on shares of Phillips 66 from $205.00 to $215.00 in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.11.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction dated 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 directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 114,029 shares of company stock valued at $19,641,455. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $173.90 on Friday. The company has a 50 day moving average price of $171.95 and a 200-day moving average price of $153.13. Phillips 66 has a fifty-two week low of $109.75 and a fifty-two week high of $190.61. The stock has a market capitalization of $69.72 billion, a PE ratio of 17.13, a PEG ratio of 0.26 and a beta of 0.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.90) earnings per share. Equities analysts predict that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Phillips 66 Company 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.