Beese Fulmer Investment Management Inc. Has $1.30 Million Stock Position in Phillips 66 $PSX

Beese Fulmer Investment Management Inc. grew its position in Phillips 66 (NYSE:PSX) by 55.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,075 shares of the oil and gas company’s stock after acquiring an additional 3,613 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Phillips 66 were worth $1,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Vanguard Group Inc. grew its holdings in shares of Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock valued at $7,035,574,000 after buying an additional 5,356,558 shares during the period. M&T Bank Corp grew its holdings in shares of Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after buying an additional 2,243,268 shares during the period. AQR Capital Management LLC grew its holdings in shares of Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after buying an additional 1,532,389 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $107,967,000. Finally, Holocene Advisors LP grew its holdings in shares of Phillips 66 by 2,433.1% in the 2nd quarter. Holocene Advisors LP now owns 711,599 shares of the oil and gas company’s stock valued at $84,894,000 after buying an additional 683,507 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Raymond James Financial increased their price objective on shares of Phillips 66 from $205.00 to $215.00 in a research report on Thursday, April 30th. Morgan Stanley reissued an “overweight” rating and set a $180.00 price objective on shares of Phillips 66 in a research report on Thursday, April 30th. Finally, Wolfe Research increased their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $186.28.

Phillips 66 Stock Up 0.1%

Shares of PSX stock opened at $176.42 on Monday. The company has a market capitalization of $70.73 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a 12-month low of $109.75 and a 12-month high of $190.61. The firm has a fifty day moving average of $170.79 and a 200-day moving average of $151.93. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

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

Phillips 66 Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares of the company’s stock, valued at approximately $10,442,200.35. This trade represents a 41.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 121,529 shares of company stock valued at $20,841,455 in the last quarter. Company insiders own 0.40% of the company’s stock.

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.