Eldred Rock Partners LLC Raises Stock Holdings in Phillips 66 (NYSE:PSX)

Eldred Rock Partners LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,915 shares of the oil and gas company's stock after buying an additional 8,904 shares during the quarter. Phillips 66 accounts for 3.6% of Eldred Rock Partners LLC's investment portfolio, making the stock its 11th largest position. Eldred Rock Partners LLC's holdings in Phillips 66 were worth $11,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PSX. NBC Securities Inc. grew its holdings in Phillips 66 by 155,700.0% during the first quarter. NBC Securities Inc. now owns 1,558 shares of the oil and gas company's stock worth $192,000 after acquiring an additional 1,557 shares during the period. Fiduciary Alliance LLC boosted its position in shares of Phillips 66 by 10.0% in the first quarter. Fiduciary Alliance LLC now owns 8,313 shares of the oil and gas company's stock worth $1,027,000 after acquiring an additional 754 shares during the last quarter. Websterrogers Financial Advisors LLC acquired a new stake in Phillips 66 during the first quarter worth about $208,000. Czech National Bank lifted its position in Phillips 66 by 6.0% during the first quarter. Czech National Bank now owns 94,857 shares of the oil and gas company's stock valued at $11,713,000 after buying an additional 5,364 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its holdings in Phillips 66 by 3.9% in the 1st quarter. Mirador Capital Partners LP now owns 49,073 shares of the oil and gas company's stock worth $6,060,000 after acquiring an additional 1,858 shares during the period. 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 acquired 439 shares of the company'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 acquisition, the director now owns 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $1.69 during trading hours on Tuesday, hitting $115.97. 2,065,528 shares of the stock were exchanged, compared to its average volume of 3,011,904. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a market cap of $47.25 billion, a PE ratio of 23.48, a price-to-earnings-growth 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 company's fifty day simple moving average is $109.02 and its two-hundred day simple moving average is $118.32.

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) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the business posted $1.90 earnings per share. On average, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued 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 annualized dividend and a yield of 4.14%. Phillips 66's dividend payout ratio is presently 109.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PSX shares. Morgan Stanley dropped 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. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Finally, UBS Group cut their price objective on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.62.

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.