5,914 Shares in Phillips 66 (NYSE:PSX) Purchased by Davis Investment Partners LLC

Davis Investment Partners LLC bought a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 5,914 shares of the oil and gas company's stock, valued at approximately $730,000.

Several other large investors also recently made changes to their positions in PSX. Bogart Wealth LLC boosted its stake in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Phillips 66 during the 4th quarter valued at about $25,000. Pacific Center for Financial Services acquired a new position in Phillips 66 during the 4th quarter valued at about $27,000. Graney & King LLC acquired a new position in Phillips 66 during the 4th quarter valued at about $28,000. Finally, Wood Tarver Financial Group LLC acquired a new position in Phillips 66 during the 4th quarter valued at about $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director now directly owns 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group cut their target price on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. TD Cowen boosted their target price on Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Scotiabank cut their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Barclays boosted their target price on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus target price of $135.46.

Phillips 66 Stock Performance

PSX stock traded up $0.42 during midday trading on Friday, reaching $121.94. 2,068,059 shares of the company's stock traded hands, compared to its average volume of 3,028,683. The company has a 50-day moving average price of $109.24 and a two-hundred day moving average price of $117.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. 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 $49.68 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02.

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) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter last year, the firm earned $1.90 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current 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 given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.94%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66's dividend payout ratio is presently 109.34%.

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.