Phillips 66 (NYSE:PSX) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 20.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 953 shares of the oil and gas company’s stock after buying an additional 165 shares during the period. First Horizon Advisors Inc.’s holdings in Phillips 66 were worth $127,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PSX. Barclays PLC boosted its position in shares of Phillips 66 by 4.2% during the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after purchasing an additional 309,239 shares in the last quarter. Morgan Stanley lifted its position in shares of Phillips 66 by 2.1% during the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after acquiring an additional 138,646 shares during the period. Northern Trust Corp boosted its stake in shares of Phillips 66 by 6.2% during the 3rd quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock worth $586,463,000 after acquiring an additional 283,010 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Phillips 66 by 21.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock worth $233,909,000 after acquiring an additional 350,211 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Phillips 66 during the fourth quarter worth $254,336,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX stock opened at $145.12 on Tuesday. The company has a market cap of $61.52 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $155.49 and a two-hundred day moving average price of $138.56. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the previous year, the firm posted $4.21 EPS. As a group, research analysts predict that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.17%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is 32.31%.

Insider Activity at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 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 of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. In the last three months, insiders sold 35,056 shares of company stock worth $5,272,681. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent research reports. Scotiabank boosted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday. Raymond James raised their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. boosted their price objective 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. Finally, Piper Sandler raised their target price 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. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Company Profile

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.