2,348 Shares in Phillips 66 (NYSE:PSX) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new stake in Phillips 66 (NYSE:PSX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,348 shares of the oil and gas company's stock, valued at approximately $290,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in Phillips 66 by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock valued at $1,064,601,000 after purchasing an additional 639,323 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Phillips 66 by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after acquiring an additional 82,758 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after acquiring an additional 4,455,220 shares during the period. Northern Trust Corp grew its position in shares of Phillips 66 by 10.6% in the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after acquiring an additional 440,107 shares during the period. Finally, Norges Bank bought a new position in shares of Phillips 66 in the 4th quarter valued at about $497,648,000. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of analyst reports. Evercore ISI initiated coverage on shares of Phillips 66 in a research report on Wednesday. They issued an "outperform" rating and a $130.00 price objective for the company. UBS Group cut their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Raymond James Financial cut their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Mizuho raised their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, Scotiabank cut their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average price target of $133.93.

Insiders Place Their Bets

In other news, Director Robert W. Pease purchased 439 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director now owns 4,091 shares of the company's stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president now owns 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

Phillips 66 Trading Up 0.0%

Shares of Phillips 66 stock opened at $124.87 on Friday. The firm has a market capitalization of $50.88 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm's 50 day moving average is $112.45 and its 200 day moving average is $117.24. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same period last year, the firm posted $1.90 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

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.

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