Alpine Woods Capital Investors LLC Invests $308,000 in Phillips 66 (NYSE:PSX)

Alpine Woods Capital Investors LLC bought a new stake in Phillips 66 (NYSE:PSX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,497 shares of the oil and gas company's stock, valued at approximately $308,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quotient Wealth Partners LLC raised its stake in shares of Phillips 66 by 10.5% during the first quarter. Quotient Wealth Partners LLC now owns 39,410 shares of the oil and gas company's stock valued at $4,866,000 after purchasing an additional 3,736 shares during the period. Bridges Investment Management Inc. grew its holdings in Phillips 66 by 24.6% during the 1st quarter. Bridges Investment Management Inc. now owns 5,007 shares of the oil and gas company's stock valued at $618,000 after purchasing an additional 990 shares in the last quarter. LBP AM SA increased its stake in Phillips 66 by 20.8% during the 1st quarter. LBP AM SA now owns 83,256 shares of the oil and gas company's stock worth $10,280,000 after buying an additional 14,333 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Phillips 66 by 2.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 203,702 shares of the oil and gas company's stock worth $24,690,000 after buying an additional 4,241 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in Phillips 66 by 5.9% in the 1st quarter. Valeo Financial Advisors LLC now owns 15,019 shares of the oil and gas company's stock worth $1,855,000 after buying an additional 836 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Insiders Place Their Bets

In related news, EVP Brian Mandell sold 9,800 shares of the 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 sale, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president directly owned 43,373 shares in the company, valued at approximately $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

Phillips 66 Stock Down 2.0%

Shares of Phillips 66 stock traded down $2.73 during trading on Friday, hitting $131.66. 1,679,501 shares of the stock traded hands, compared to its average volume of 3,124,656. The stock has a market cap of $53.64 billion, a P/E ratio of 29.99, a PEG ratio of 2.11 and a beta of 1.02. The company has a fifty day moving average price of $119.47 and a two-hundred day moving average price of $117.81. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business 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 quarter in the prior year, the business posted $1.90 EPS. Equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.65%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSX. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Piper Sandler upped their target price on shares of Phillips 66 from $131.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday. TD Cowen increased their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research note on Wednesday, June 18th. Finally, Scotiabank restated a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a research note on Friday. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $135.07.

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.