Phillips 66 (NYSE:PSX) Shares Bought by Headlands Technologies LLC

Headlands Technologies LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 17.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,894 shares of the oil and gas company’s stock after buying an additional 582 shares during the period. Headlands Technologies LLC’s holdings in Phillips 66 were worth $518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew 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 valued at $32,000 after buying an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at $36,000. Bell Investment Advisors Inc grew 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 valued at $37,000 after buying an additional 138 shares during the last quarter. West Branch Capital LLC grew its position in shares of Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares during the last quarter. Finally, Headinvest LLC purchased a new position in shares of Phillips 66 in the 3rd quarter valued at $51,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. In the last three months, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

PSX has been the subject of a number of recent research reports. Piper Sandler increased their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating for the company. Wells Fargo & Company increased their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Mizuho reduced 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 note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Phillips 66 Trading Down 3.7 %

PSX stock traded down $5.83 during midday trading on Friday, reaching $151.41. The stock had a trading volume of 4,206,800 shares, compared to its average volume of 2,131,287. The business has a fifty day simple moving average of $155.55 and a two-hundred day simple moving average of $136.88. 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 firm has a market cap of $64.78 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.90 and a beta of 1.37. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same quarter in the previous year, the firm posted $4.21 earnings per share. As a group, research analysts expect that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.04%. Phillips 66’s payout ratio is currently 29.73%.

Phillips 66 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.