Havemeyer Place LP Makes New $1.87 Million Investment in Phillips 66 $PSX

Havemeyer Place LP purchased a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,518 shares of the oil and gas company’s stock, valued at approximately $1,873,000.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after purchasing an additional 205,480 shares during the period. Geode Capital Management LLC increased its stake in shares of Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after purchasing an additional 45,340 shares during the period. Norges Bank acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $640,206,000. M&T Bank Corp increased its stake in shares of Phillips 66 by 462.9% in the fourth 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 purchasing an additional 2,243,268 shares during the period. Finally, Amundi increased its stake in shares of Phillips 66 by 2.8% in the third quarter. Amundi now owns 2,400,180 shares of the oil and gas company’s stock valued at $319,123,000 after purchasing an additional 65,568 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of several analyst reports. TD Cowen raised their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Argus raised their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Jefferies Financial Group raised their price target on shares of Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Finally, Barclays raised their price objective on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.28.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the sale, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This trade represents a 30.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. This represents a 0.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 92,229 shares of company stock worth $15,990,030. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Trading Down 0.5%

Shares of NYSE:PSX opened at $183.30 on Friday. The company has a 50 day moving average price of $172.76 and a 200 day moving average price of $156.17. Phillips 66 has a 1-year low of $112.95 and a 1-year high of $190.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a market capitalization of $73.49 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 0.27 and a beta of 0.68.

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

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.8%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

About Phillips 66

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.