Kestra Private Wealth Services LLC Raises Stake in Phillips 66 $PSX

Key Points

• Kestra Private Wealth Services LLC raised its Phillips 66 stake by 8.5% in Q4, adding 9,150 shares to hold 116,938 shares valued at about $15.09 million.
• Several large institutions also shifted positions — notably Vanguard now owns 51,724,558 shares (~$7.04B) and firms like M&T, AQR and Holocene made sizable increases, leaving institutional ownership at 76.93%.
• Phillips 66 beat quarterly EPS estimates ($2.47 vs. $2.15), announced a $1.27 quarterly dividend (3.1% yield, payable June 1), and carries a consensus analyst rating of "Hold" with a $181.33 target.

Kestra Private Wealth Services LLC increased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 8.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 116,938 shares of the oil and gas company's stock after purchasing an additional 9,150 shares during the period. Kestra Private Wealth Services LLC's holdings in Phillips 66 were worth $15,090,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PSX. Vanguard Group Inc. increased its stake in Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock worth $7,035,574,000 after acquiring an additional 5,356,558 shares during the last quarter. M&T Bank Corp boosted its holdings in Phillips 66 by 462.9% during the 4th 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 acquiring an additional 2,243,268 shares during the period. AQR Capital Management LLC boosted its holdings in Phillips 66 by 424.7% during the 3rd 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 acquiring an additional 1,532,389 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Phillips 66 during the 2nd quarter valued at about $107,967,000. Finally, Holocene Advisors LP boosted its holdings in Phillips 66 by 2,433.1% during the 2nd quarter. Holocene Advisors LP now owns 711,599 shares of the oil and gas company's stock valued at $84,894,000 after acquiring an additional 683,507 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 15,629 shares of Phillips 66 stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $190.07, for a total value of $2,970,604.03. Following the sale, the chief financial officer directly owned 97,376 shares of the company's stock, valued at approximately $18,508,256.32. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average cost of $173.20 per share, for a total transaction of $30,310.00. Following the completion of the acquisition, the director directly owned 16,624 shares of the company's stock, valued at approximately $2,879,276.80. The trade was a 1.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 95,923 shares of company stock valued at $16,399,619. 0.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSX. UBS Group upped their price objective on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Jefferies Financial Group cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Barclays upped their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. upped their price target on Phillips 66 from $161.00 to $188.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. Finally, Morgan Stanley raised their target price on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an "equal weight" rating in a report on Thursday, February 5th. Eleven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $181.33.

Phillips 66 Price Performance

NYSE:PSX opened at $162.83 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The business's 50-day simple moving average is $166.67 and its two-hundred day simple moving average is $148.12. The stock has a market cap of $65.25 billion, a PE ratio of 15.05, a P/E/G ratio of 0.30 and a beta of 0.76. Phillips 66 has a 52 week low of $101.54 and a 52 week high of $190.61.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to analysts' expectations of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same period last year, the firm earned ($0.15) earnings per share. As a group, analysts forecast that Phillips 66 will post 14.12 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66's payout ratio is 46.95%.

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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