Cwm LLC Raises Stake in Phillips 66 (NYSE:PSX)

Cwm LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 11.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,988 shares of the oil and gas company’s stock after acquiring an additional 2,403 shares during the period. Cwm LLC’s holdings in Phillips 66 were worth $3,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Cedar Brook Financial Partners LLC acquired a new position in shares of Phillips 66 during the 3rd quarter worth $219,000. Exchange Traded Concepts LLC raised its stake in shares of Phillips 66 by 3,825.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,727 shares of the oil and gas company’s stock worth $207,000 after buying an additional 1,683 shares during the last quarter. Strategic Blueprint LLC raised its stake in shares of Phillips 66 by 9.3% during the 3rd quarter. Strategic Blueprint LLC now owns 2,330 shares of the oil and gas company’s stock worth $280,000 after buying an additional 198 shares during the last quarter. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Phillips 66 during the 3rd quarter worth $279,000. Finally, UMB Bank n.a. raised its stake in Phillips 66 by 0.7% in the 3rd quarter. UMB Bank n.a. now owns 42,750 shares of the oil and gas company’s stock valued at $5,136,000 after purchasing an additional 278 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler boosted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Mizuho cut their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Stock Down 0.6 %

Shares of NYSE:PSX opened at $157.82 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company has a 50 day moving average of $155.18 and a two-hundred day moving average of $136.46. The company has a market capitalization of $67.52 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. As a group, analysts forecast that Phillips 66 will post 13.59 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 2.91%. Phillips 66’s dividend payout ratio (DPR) is 27.15%.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease acquired 682 shares of the stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert W. Pease bought 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

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.