Brady Family Wealth LLC Buys 2,362 Shares of Phillips 66 (NYSE:PSX)

Brady Family Wealth LLC boosted its position in Phillips 66 (NYSE:PSX - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,990 shares of the oil and gas company's stock after purchasing an additional 2,362 shares during the period. Phillips 66 comprises approximately 1.5% of Brady Family Wealth LLC's portfolio, making the stock its 23rd biggest holding. Brady Family Wealth LLC's holdings in Phillips 66 were worth $4,814,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after acquiring an additional 4,455,220 shares during the period. Norges Bank purchased a new position in shares of Phillips 66 in the fourth quarter worth about $497,648,000. Raymond James Financial Inc. bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $168,790,000. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $142,185,000. Finally, GAMMA Investing LLC lifted its stake in shares of Phillips 66 by 14,119.5% during the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock valued at $146,893,000 after buying an additional 1,181,240 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSX. Barclays boosted their target price on shares of Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Compass Point initiated coverage on shares of Phillips 66 in a research note on Wednesday. They set a "buy" rating for the company. Wells Fargo & Company dropped their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Cantor Fitzgerald initiated coverage on Phillips 66 in a research note on Wednesday. They issued a "neutral" rating on the stock. Finally, TD Cowen raised their price target on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of "Moderate Buy" and an average price target of $133.93.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $124.98 on Friday. The stock's 50-day moving average is $111.89 and its 200 day moving average is $117.30. The stock has a market cap of $50.92 billion, a price-to-earnings ratio of 28.47, a P/E/G ratio of 1.94 and a beta of 1.02. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. 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 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The business had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same period last year, the business posted $1.90 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

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

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease purchased 439 shares of the business's stock in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.22% of the company's stock.

Phillips 66 Company 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.

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