Focus Partners Wealth Acquires 88,051 Shares of Phillips 66 $PSX

Focus Partners Wealth boosted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 20.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 515,909 shares of the oil and gas company's stock after acquiring an additional 88,051 shares during the quarter. Focus Partners Wealth owned 0.13% of Phillips 66 worth $67,921,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new position in Phillips 66 in the 4th quarter worth about $26,000. Accordant Advisory Group Inc increased its stake in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock worth $26,000 after acquiring an additional 180 shares during the last quarter. SWAN Capital LLC increased its stake in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Phillips 66 in the 4th quarter worth about $27,000. Finally, Stephens Consulting LLC increased its stake in Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 90 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Kevin Omar Meyers bought 175 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director directly owned 16,799 shares of the company's stock, valued at $2,908,242.88. The trade was a 1.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares of the company's stock, valued at $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,629 shares of company stock valued at $8,071,540 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

Phillips 66 Trading Down 3.6%

Shares of PSX stock opened at $172.90 on Tuesday. The stock has a market capitalization of $69.32 billion, a PE ratio of 17.03, a P/E/G ratio of 0.26 and a beta of 0.68. Phillips 66 has a 1-year low of $118.00 and a 1-year high of $190.61. The business has a 50-day moving average of $172.42 and a 200 day moving average of $158.19. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analysts' expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.90) EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 17.95 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a dividend of $1.27 per share. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. Phillips 66's dividend payout ratio is currently 50.05%.

Analyst Ratings Changes

PSX has been the topic of a number of research analyst reports. TD Cowen upped their target price on Phillips 66 from $155.00 to $213.00 and gave the stock a "buy" rating in a research note on Wednesday, April 1st. Wells Fargo & Company upped their target price on Phillips 66 from $163.00 to $201.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 31st. The Goldman Sachs Group upped their price objective on Phillips 66 from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Tuesday, May 19th. Jefferies Financial Group upped their price objective on Phillips 66 from $173.00 to $191.00 and gave the stock a "hold" rating in a report on Tuesday, May 26th. Finally, UBS Group reiterated a "buy" rating and issued a $212.00 price objective on shares of Phillips 66 in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $192.33.

Phillips 66 Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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