Allworth Financial LP Raises Stock Holdings in Phillips 66 $PSX

Allworth Financial LP boosted its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 235.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 61,691 shares of the oil and gas company's stock after acquiring an additional 43,277 shares during the quarter. Allworth Financial LP's holdings in Phillips 66 were worth $7,961,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Board of the Pension Protection Fund purchased a new stake in shares of Phillips 66 in the 4th quarter valued at $26,000. Accordant Advisory Group Inc raised its holdings in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Phillips 66 during the fourth quarter valued at $27,000. Stephens Consulting LLC boosted its holdings in Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Dorato Capital Management purchased a new stake in Phillips 66 in the fourth quarter valued at $35,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

NYSE:PSX opened at $176.42 on Friday. The company has a market cap of $70.73 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a twelve month low of $109.75 and a twelve month high of $190.61. The company's 50-day moving average price is $170.79 and its 200-day moving average price is $151.81. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analysts' expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.90) EPS. On average, sell-side analysts forecast that Phillips 66 will post 17.39 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be given a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66's dividend payout ratio is 50.05%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the firm's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares of the company's stock, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 121,529 shares of company stock valued at $20,841,455. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PSX shares. Tudor Pickering upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Zacks Research raised Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Piper Sandler lifted their price target on Phillips 66 from $168.00 to $177.00 and gave the company a "neutral" rating in a research report on Wednesday, April 8th. TD Cowen boosted their price target on Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. upped their price objective on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of "Moderate Buy" and an average target price of $186.28.

Phillips 66 Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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