Advisory Resource Group Has $31.65 Million Stock Holdings in Phillips 66 (NYSE:PSX)

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

Several other institutional investors and hedge funds have also recently made changes to their positions in PSX. Oppenheimer & Co. Inc. boosted its position in Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock valued at $5,349,000 after buying an additional 4,515 shares during the period. Corps Capital Advisors LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $412,000. Cohen & Steers Inc. grew its stake in shares of Phillips 66 by 40.3% in the fourth quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company's stock worth $10,443,000 after purchasing an additional 26,318 shares during the last quarter. American Assets Investment Management LLC increased its holdings in Phillips 66 by 2.3% during the 4th quarter. American Assets Investment Management LLC now owns 130,800 shares of the oil and gas company's stock valued at $14,902,000 after purchasing an additional 3,000 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Phillips 66 during the 4th quarter valued at approximately $168,790,000. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSX. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. 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 report on Tuesday, May 13th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research report on Wednesday. They set a "neutral" rating on the stock. Eight research 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $133.93.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease purchased 439 shares of the business'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 completion of the acquisition, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $124.98 on Thursday. Phillips 66 has a twelve month low of $91.01 and a twelve 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 company has a market capitalization of $50.92 billion, a P/E ratio of 28.47, a PEG ratio of 1.91 and a beta of 1.02. The stock's 50 day moving average is $111.33 and its 200 day moving average is $117.38.

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

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.84%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. Phillips 66's dividend payout ratio is 109.34%.

About Phillips 66

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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