Angeles Wealth Management LLC Buys 537 Shares of Phillips 66 (NYSE:PSX)

Angeles Wealth Management LLC grew its stake in Phillips 66 (NYSE:PSXFree Report) by 17.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,647 shares of the oil and gas company’s stock after acquiring an additional 537 shares during the quarter. Angeles Wealth Management LLC’s holdings in Phillips 66 were worth $486,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its holdings in shares of Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after purchasing an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC bought a new position in shares of Phillips 66 during the fourth quarter valued at $10,402,000. First Dallas Securities Inc. bought a new position in shares of Phillips 66 during the third quarter valued at $753,000. TIAA Trust National Association lifted its holdings in shares of Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after purchasing an additional 3,670 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Phillips 66 by 27.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after purchasing an additional 10,536 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,864 shares of company stock worth $7,567,178. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSX. JPMorgan Chase & Co. upped their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Scotiabank increased their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Bank of America increased their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Mizuho lowered their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.93.

Read Our Latest Research Report on Phillips 66

Phillips 66 Stock Performance

Shares of PSX opened at $138.07 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $150.65 and a two-hundred day simple moving average of $143.01. The stock has a market cap of $58.53 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.90 and a beta of 1.37. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSXGet Free Report) last released 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). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the prior year, the business posted $4.21 EPS. On average, analysts expect that Phillips 66 will post 12.16 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. The ex-dividend date was Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.33%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

About Phillips 66

(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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