Phillips 66 (NYSE:PSX) Shares Purchased by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC grew its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,809 shares of the oil and gas company's stock after purchasing an additional 7,192 shares during the period. Phillips 66 comprises about 0.7% of Chickasaw Capital Management LLC's holdings, making the stock its 17th largest holding. Chickasaw Capital Management LLC's holdings in Phillips 66 were worth $18,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Forum Financial Management LP raised its position in Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after buying an additional 77 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in shares of Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after purchasing an additional 81 shares in the last quarter. JBR Co Financial Management Inc raised its holdings in shares of Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock worth $1,085,000 after acquiring an additional 85 shares during the last quarter. Nwam LLC boosted its stake in shares of Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after purchasing an additional 85 shares during the last quarter. Finally, PFG Private Wealth Management LLC raised its position in shares of Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after buying an additional 88 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease purchased 439 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSX. Scotiabank decreased their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Morgan Stanley reduced their price target on 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. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. Finally, Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $135.62.

Phillips 66 Price Performance

NYSE PSX traded down $0.37 during trading hours on Thursday, hitting $112.12. The company had a trading volume of 2,835,714 shares, compared to its average volume of 3,013,347. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The firm has a market capitalization of $45.68 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 4.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a 50 day simple moving average of $108.65 and a 200 day simple moving average of $118.26.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its 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). The company had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the business posted $1.90 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.28%. The ex-dividend date was Monday, May 19th. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is currently 109.34%.

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.