Blair William & Co. IL Increases Stock Position in Phillips 66 (NYSE:PSX)

Key Points

• Blair William & Co. IL increased its stake in Phillips 66 by 7.2%, owning 182,821 shares valued at approximately $22.58 million as of the latest SEC filing.
• Phillips 66 reported earnings of $2.38 per share, outperforming analysts' estimates, with quarterly revenues of $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share, resulting in an annualized yield of 4.0%.

Blair William & Co. IL grew its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 7.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,821 shares of the oil and gas company's stock after buying an additional 12,224 shares during the period. Blair William & Co. IL's holdings in Phillips 66 were worth $22,575,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Forum Financial Management LP grew its holdings in Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after purchasing an additional 77 shares during the period. CWC Advisors LLC. boosted its position in shares of Phillips 66 by 1.0% in the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after purchasing an additional 92 shares in the last quarter. Hager Investment Management Services LLC boosted its position in shares of Phillips 66 by 7.2% in the 1st quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after purchasing an additional 96 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Phillips 66 by 14.4% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock worth $95,000 after buying an additional 97 shares during the last quarter. Finally, Lantern Wealth Advisors LLC increased its position in Phillips 66 by 4.7% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,224 shares of the oil and gas company's stock valued at $253,000 after buying an additional 99 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

PSX stock opened at $119.59 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.85. The company has a market cap of $48.33 billion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09. The stock's fifty day moving average price is $122.41 and its 200-day moving average price is $118.89.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%. During the same quarter in the prior year, the company earned $2.31 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, August 19th. Phillips 66's payout ratio is 115.38%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several analyst reports. Piper Sandler dropped their target price on Phillips 66 from $147.00 to $144.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Raymond James Financial set a $142.00 price target on shares of Phillips 66 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Wells Fargo & Company cut their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $136.13.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president directly owned 43,373 shares in the company, valued at approximately $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Pease purchased 439 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director directly owned 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,939 shares of company stock valued at $237,725 in the last three months. Corporate insiders own 0.22% of the company's stock.

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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