Ieq Capital LLC Acquires 77,273 Shares of Phillips 66 $PSX

Ieq Capital LLC raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 41.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 264,260 shares of the oil and gas company's stock after buying an additional 77,273 shares during the period. Ieq Capital LLC owned about 0.07% of Phillips 66 worth $34,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PSX. Vanguard Group Inc. lifted its stake in shares of Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock valued at $7,035,574,000 after buying an additional 5,356,558 shares in the last quarter. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter valued at $640,206,000. M&T Bank Corp lifted its stake in shares of Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock valued at $352,007,000 after buying an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after purchasing an additional 1,532,389 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Phillips 66 in the second quarter valued at approximately $107,967,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. raised their target price on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Piper Sandler raised their target price on Phillips 66 from $168.00 to $177.00 and gave the company a "neutral" rating in a report on Wednesday, April 8th. Weiss Ratings lowered Phillips 66 from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Finally, Jefferies Financial Group raised their target price on Phillips 66 from $173.00 to $191.00 and gave the company a "hold" rating in a report on Tuesday, May 26th. Two investment 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $192.33.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares of the company's stock, valued at $2,908,242.88. This represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 45,629 shares of company stock valued at $8,071,540 over the last three months. Company insiders own 0.40% of the company's stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $179.27 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The business has a fifty day simple moving average of $172.49 and a two-hundred day simple moving average of $157.75. Phillips 66 has a 1 year low of $118.00 and a 1 year high of $190.61. The company has a market capitalization of $71.87 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.26 and a beta of 0.68.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same period last year, the business posted ($0.90) earnings per share. The business's revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts expect that Phillips 66 will post 17.86 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66's dividend payout ratio (DPR) is currently 50.05%.

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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