Lindbrook Capital LLC Buys 332 Shares of Phillips 66 (NYSE:PSX)

Lindbrook Capital LLC grew its stake in Phillips 66 (NYSE:PSX) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,491 shares of the oil and gas company’s stock after acquiring an additional 332 shares during the period. Lindbrook Capital LLC’s holdings in Phillips 66 were worth $465,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PSX. First Capital Advisors Group LLC. purchased a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $25,000. Cornerstone Planning Group LLC lifted its position in shares of Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the period. Worth Asset Management LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth approximately $36,000. Finally, Bell Investment Advisors Inc lifted its position in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 138 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSX. Piper Sandler upped their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Mizuho decreased 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 report on Friday, April 12th. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Raymond James increased their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Trading Up 0.9 %

NYSE PSX opened at $154.71 on Monday. The company has a fifty day simple moving average of $154.40 and a two-hundred day simple moving average of $135.63. The stock has a market cap of $66.19 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.92 and a beta of 1.37. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The firm had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. On average, analysts forecast that Phillips 66 will post 13.45 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.97%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is presently 27.15%.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 over the last 90 days. 0.22% of the stock is currently owned by company 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.