Richard Bernstein Advisors LLC Acquires Shares of 23,474 Phillips 66 (NYSE:PSX)

Richard Bernstein Advisors LLC acquired a new stake in Phillips 66 (NYSE:PSXFree Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,474 shares of the oil and gas company’s stock, valued at approximately $2,820,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. PointState Capital LP acquired a new position in shares of Phillips 66 in the 3rd quarter valued at about $14,185,000. Caxton Associates LP purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at about $320,000. Infrastructure Capital Advisors LLC raised its holdings in shares of Phillips 66 by 45.9% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 10,000 shares of the oil and gas company’s stock valued at $1,202,000 after buying an additional 3,147 shares during the period. Cape Cod Five Cents Savings Bank increased its holdings in Phillips 66 by 100.1% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 6,004 shares of the oil and gas company’s stock worth $721,000 after purchasing an additional 3,004 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in Phillips 66 by 43.5% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 597 shares of the oil and gas company’s stock worth $72,000 after purchasing an additional 181 shares during the last quarter. 71.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 31,700 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $130.21, for a total value of $4,127,657.00. Following the transaction, the chief financial officer now directly owns 103,351 shares in the company, valued at approximately $13,457,333.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Kevin J. Mitchell sold 31,700 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $130.21, for a total value of $4,127,657.00. Following the transaction, the chief financial officer now directly owns 103,351 shares in the company, valued at approximately $13,457,333.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pease purchased 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 63,587 shares of company stock worth $8,671,094. Insiders own 4.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSX. Wells Fargo & Company boosted their price target on Phillips 66 from $151.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. TD Cowen boosted their price objective on Phillips 66 from $134.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, December 4th. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Raymond James upped their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Barclays upped their price target on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.21.

Check Out Our Latest Analysis on Phillips 66

Phillips 66 Stock Performance

Phillips 66 stock traded up $1.89 during trading hours on Thursday, hitting $143.13. The stock had a trading volume of 421,423 shares, compared to its average volume of 3,070,406. The company has a 50-day moving average of $138.46 and a two-hundred day moving average of $125.04. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The company has a market cap of $61.23 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 1.85 and a beta of 1.38. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $150.08.

Phillips 66 (NYSE:PSXGet Free Report) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, equities research analysts anticipate that Phillips 66 will post 13.06 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Tuesday, February 20th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, February 16th. This represents a $4.20 dividend on an annualized basis and a yield of 2.93%. Phillips 66’s dividend payout ratio is 27.15%.

Phillips 66 Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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