Inscription Capital LLC Buys New Position in Phillips 66 (NYSE:PSX)

Inscription Capital LLC purchased a new position in Phillips 66 (NYSE:PSX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,153 shares of the oil and gas company's stock, valued at approximately $1,624,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in Phillips 66 during the first quarter valued at about $29,000. Pacific Center for Financial Services purchased a new position in Phillips 66 in the fourth quarter valued at about $27,000. Graney & King LLC bought a new position in Phillips 66 in the fourth quarter worth about $28,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at about $29,000. 76.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

NYSE PSX traded up $0.44 on Wednesday, hitting $124.98. The company had a trading volume of 5,787,595 shares, compared to its average volume of 3,065,997. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. The company's fifty day moving average price is $110.89 and its 200-day moving average price is $117.33. The company has a market capitalization of $50.92 billion, a PE ratio of 28.47, a PEG ratio of 1.91 and a beta of 1.02. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same period in the previous year, the company earned $1.90 EPS. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed 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 of this dividend was Monday, May 19th. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. Phillips 66's dividend payout ratio is currently 109.34%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Raymond James Financial cut their price target on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target on the stock. in a research note on Thursday, March 27th. TD Cowen upped their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Finally, UBS Group dropped their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $133.93.

Phillips 66 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.