Glassy Mountain Advisors Inc. Makes New Investment in Phillips 66 (NYSE:PSX)

Glassy Mountain Advisors Inc. purchased a new position in Phillips 66 (NYSE:PSX – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 300 shares of the oil and gas company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MCIA Inc boosted its position in shares of Phillips 66 by 48.1% in the 4th quarter. MCIA Inc now owns 24,110 shares of the oil and gas company’s stock valued at $2,449,000 after purchasing an additional 7,833 shares during the period. RNC Capital Management LLC raised its stake in shares of Phillips 66 by 1.1% in the 4th quarter. RNC Capital Management LLC now owns 498,834 shares of the oil and gas company’s stock valued at $51,919,000 after acquiring an additional 5,562 shares in the last quarter. Fulcrum Equity Management increased its position in Phillips 66 by 10.9% in the 4th quarter. Fulcrum Equity Management now owns 2,868 shares of the oil and gas company’s stock worth $298,000 after buying an additional 281 shares during the period. O Keefe Stevens Advisory Inc. grew its holdings in shares of Phillips 66 by 1.3% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 24,639 shares of the oil and gas company’s stock worth $2,564,000 after purchasing an additional 311 shares in the last quarter. Finally, Gries Financial LLC boosted its stake in Phillips 66 by 49.6% in the 4th quarter. Gries Financial LLC now owns 22,111 shares of the oil and gas company’s stock valued at $2,301,000 after buying an additional 7,333 shares in the last quarter. 70.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gregory Hayes acquired 10,250 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 2nd. The shares were purchased at an average cost of $97.75 per share, for a total transaction of $1,001,937.50. Following the completion of the purchase, the director now directly owns 14,299 shares of the company’s stock, valued at approximately $1,397,727.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.74% of the stock is owned by company insiders.

Analysts Set New Price Targets

PSX has been the subject of a number of research analyst reports. Mizuho decreased their target price on Phillips 66 from $121.00 to $120.00 in a research note on Friday, March 10th. Royal Bank of Canada raised their price objective on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Morgan Stanley raised their price objective on Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, January 20th. Wells Fargo & Company lowered their price objective on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, January 5th. Finally, Raymond James lifted their price objective on Phillips 66 from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.27.

Phillips 66 Stock Down 0.3 %

PSX stock opened at $94.72 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.17 and a debt-to-equity ratio of 0.49. Phillips 66 has a twelve month low of $74.02 and a twelve month high of $113.53. The company’s 50 day moving average is $102.53 and its two-hundred day moving average is $99.45. The stock has a market cap of $43.94 billion, a P/E ratio of 4.13, a PEG ratio of 0.32 and a beta of 1.37.

Phillips 66 (NYSE:PSX – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.35). The firm had revenue of $40.91 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same period in the prior year, the firm posted $2.94 earnings per share. Research analysts expect that Phillips 66 will post 15.68 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Friday, February 17th. This is an increase from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s dividend payout ratio is 18.30%.

Phillips 66 Company 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.