Phillips 66 (NYSE:PSX) Position Lifted by Advisory Resource Group

Advisory Resource Group lifted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 6.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,327 shares of the oil and gas company's stock after purchasing an additional 16,300 shares during the quarter. Phillips 66 comprises approximately 6.4% of Advisory Resource Group's portfolio, making the stock its 2nd biggest position. Advisory Resource Group owned about 0.06% of Phillips 66 worth $31,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new position in Phillips 66 in the fourth quarter valued at approximately $497,648,000. Raymond James Financial Inc. acquired a new stake in Phillips 66 in the 4th quarter valued at $168,790,000. Capitolis Liquid Global Markets LLC acquired a new stake in Phillips 66 in the 4th quarter valued at $142,185,000. Finally, GAMMA Investing LLC increased its holdings in Phillips 66 by 14,119.5% in the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock valued at $146,893,000 after purchasing an additional 1,181,240 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Insiders Place Their Bets

In other news, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the transaction, the executive vice president now directly owns 56,838 shares of the company's stock, valued at $7,104,750. This represents a 14.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director now owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PSX shares. Mizuho raised their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Scotiabank lowered their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Compass Point assumed coverage on Phillips 66 in a research note on Wednesday. They set a "buy" rating for the company. Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Finally, TD Cowen boosted their price objective on Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $133.93.

Phillips 66 Price Performance

NYSE PSX traded up $0.05 on Friday, reaching $124.87. The company had a trading volume of 8,493,805 shares, compared to its average volume of 3,075,461. The firm's 50 day moving average price is $112.45 and its 200 day moving average price is $117.14. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The stock 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.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same period in the prior year, the business posted $1.90 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

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