HighTower Advisors LLC Acquires 6,058 Shares of Phillips 66 $PSX

Key Points

• HighTower Advisors LLC increased its Phillips 66 stake by 1.7% in the fourth quarter, buying 6,058 additional shares and bringing its total holdings to 369,586 shares worth about $47.7 million.
• Phillips 66 reported better-than-expected quarterly earnings of $0.49 per share, though revenue of $32.54 billion came in below analyst estimates. Revenue still rose 6.9% year over year.
• The company declared a quarterly dividend of $1.27 per share, payable June 1, implying an annualized yield of 2.9%; meanwhile, analysts currently rate the stock a Moderate Buy with an average price target of $187.11.

HighTower Advisors LLC increased its holdings in Phillips 66 (NYSE:PSX - Free Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 369,586 shares of the oil and gas company's stock after purchasing an additional 6,058 shares during the period. HighTower Advisors LLC owned approximately 0.09% of Phillips 66 worth $47,691,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PSX. Board of the Pension Protection Fund bought a new stake in Phillips 66 in the fourth quarter worth $26,000. Accordant Advisory Group Inc increased its position in Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in Phillips 66 in the fourth quarter worth $27,000. Stephens Consulting LLC increased its position in Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Dorato Capital Management bought a new stake in Phillips 66 in the fourth quarter worth $35,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Down 3.0%

NYSE PSX opened at $173.90 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $171.95 and a two-hundred day moving average of $153.13. The firm has a market capitalization of $69.72 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 0.26 and a beta of 0.70. Phillips 66 has a 52 week low of $109.75 and a 52 week high of $190.61.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.90) earnings per share. On average, analysts predict that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66's payout ratio is presently 50.05%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PSX shares. Wolfe Research boosted their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Barclays boosted their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 8th. Jefferies Financial Group cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Tudor Pickering upgraded shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and an average price target of $187.11.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company's stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 114,029 shares of company stock valued at $19,641,455 over the last ninety days. 0.40% of the stock is owned by corporate insiders.

About Phillips 66

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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