CoreCap Advisors LLC Makes New Investment in Phillips 66 (NYSE:PSX)

CoreCap Advisors LLC bought a new position in shares of Phillips 66 (NYSE:PSX – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,537 shares of the oil and gas company’s stock, valued at approximately $368,000.

Other large investors also recently modified their holdings of the company. Hallmark Capital Management Inc. grew its stake in shares of Phillips 66 by 62.5% in the 3rd quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 125 shares during the period. OLD Second National Bank of Aurora bought a new stake in Phillips 66 during the 4th quarter valued at $26,000. Align Wealth Management LLC bought a new stake in Phillips 66 during the 4th quarter valued at $28,000. MADDEN SECURITIES Corp bought a new stake in Phillips 66 during the 4th quarter valued at $30,000. Finally, Glassy Mountain Advisors Inc. bought a new position in shares of Phillips 66 in the fourth quarter worth $31,000. 70.76% of the stock is currently owned by institutional investors.

Phillips 66 Stock Down 1.5 %

PSX opened at $95.14 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.54. Phillips 66 has a fifty-two week low of $74.02 and a fifty-two week high of $113.53. The firm’s fifty day moving average is $98.26 and its 200 day moving average is $101.94. The stock has a market cap of $43.66 billion, a price-to-earnings ratio of 3.68, a price-to-earnings-growth ratio of 0.36 and a beta of 1.38.

Phillips 66 (NYSE:PSX – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported $4.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.63. The company had revenue of $35.09 billion for the quarter, compared to the consensus estimate of $29.76 billion. Phillips 66 had a net margin of 7.13% and a return on equity of 32.37%. During the same period in the previous year, the firm posted $1.32 EPS. On average, sell-side analysts forecast that Phillips 66 will post 14.17 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 22nd will be issued a $1.05 dividend. The ex-dividend date is Friday, May 19th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.41%. Phillips 66’s dividend payout ratio (DPR) is presently 16.24%.

Analysts Set New Price Targets

A number of research analysts recently commented on PSX shares. JPMorgan Chase & Co. increased their target price on Phillips 66 from $112.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, March 28th. The Goldman Sachs Group decreased their target price on shares of Phillips 66 from $124.00 to $119.00 in a research note on Friday, May 12th. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $130.00 to $120.00 in a research note on Tuesday, April 18th. TD Cowen reduced their price target on shares of Phillips 66 from $117.00 to $110.00 and set a “market perform” rating for the company in a research report on Friday, May 5th. Finally, UBS Group started coverage on shares of Phillips 66 in a report on Wednesday, March 8th. They issued a “buy” rating and a $139.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $120.87.

Phillips 66 Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.