Marble Wealth LLC Makes New Investment in Phillips 66 $PSX

Key Points

• Marble Wealth LLC opened a new position in Phillips 66 during the fourth quarter, buying 12,296 shares worth about $1.59 million.
• Analysts have recently turned more constructive on the stock, with several firms raising price targets and ratings; the consensus view is now “Moderate Buy” with an average target price of $191.28.
• Phillips 66 reported Q1 earnings of $0.49 per share, beating expectations, and also paid a quarterly dividend of $1.27 per share, implying an annualized yield of 2.8%.

Marble Wealth LLC acquired a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,296 shares of the oil and gas company's stock, valued at approximately $1,587,000.

Several other hedge funds have also recently bought and sold shares of the stock. Mccarter Private Wealth Services LLC lifted its position in Phillips 66 by 40.6% during the fourth quarter. Mccarter Private Wealth Services LLC now owns 4,598 shares of the oil and gas company's stock worth $593,000 after acquiring an additional 1,328 shares during the last quarter. Westpac Banking Corp bought a new position in shares of Phillips 66 during the fourth quarter worth approximately $369,000. SCP Investment LP bought a new position in shares of Phillips 66 during the fourth quarter worth approximately $387,000. Calton & Associates Inc. increased its holdings in shares of Phillips 66 by 5.6% during the fourth quarter. Calton & Associates Inc. now owns 2,168 shares of the oil and gas company's stock worth $280,000 after purchasing an additional 114 shares during the period. Finally, Beto Financial Group LLC bought a new position in shares of Phillips 66 during the fourth quarter worth approximately $412,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays raised their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Tudor Pickering raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Citigroup boosted their price target on Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Finally, Mizuho raised Phillips 66 from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $182.54 on Wednesday. The company's 50 day simple moving average is $172.41 and its 200 day simple moving average is $155.05. The stock has a market capitalization of $73.19 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68. 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 has a 1 year low of $111.37 and a 1 year high of $190.61.

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

Phillips 66 Dividend Announcement

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

Insider Activity at Phillips 66

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the business's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares of the company's stock, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 109,085 shares of company stock worth $18,825,546. Corporate insiders own 0.40% of the company's stock.

Phillips 66 Company 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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