Beaton Management Co. Inc. Takes Position in Phillips 66 (NYSE:PSX)

Beaton Management Co. Inc. acquired a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,131 shares of the oil and gas company's stock, valued at approximately $387,000.

Other institutional investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the 4th quarter worth approximately $25,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 during the fourth quarter worth $27,000. Graney & King LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $28,000. Wood Tarver Financial Group LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Mizuho lifted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a research note on Wednesday, June 18th. Finally, Morgan Stanley decreased their target price on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.93.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the 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 directly owned 56,838 shares of the company's stock, valued at $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pease bought 439 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director owned 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 disclosure for this purchase can be found here. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $3.77 during trading hours on Tuesday, reaching $123.07. The stock had a trading volume of 2,731,515 shares, compared to its average volume of 3,099,168. The stock's 50 day moving average is $115.12 and its 200 day moving average is $116.79. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The firm has a market capitalization of $50.14 billion, a PE ratio of 28.03, a PEG ratio of 1.86 and a beta of 1.02.

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 for the quarter, missing the consensus estimate of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analysts' expectations 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 firm earned $1.90 EPS. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $1.20 dividend. The ex-dividend date was Monday, May 19th. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.90%. Phillips 66's 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.