Phillips 66 (NYSE:PSX) Shares Acquired by Stablepoint Partners LLC

Stablepoint Partners LLC boosted its position in Phillips 66 (NYSE:PSX - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 47,328 shares of the oil and gas company's stock after acquiring an additional 3,589 shares during the period. Phillips 66 comprises approximately 1.1% of Stablepoint Partners LLC's holdings, making the stock its 28th biggest holding. Stablepoint Partners LLC's holdings in Phillips 66 were worth $5,844,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Tallon Kerry Patrick acquired a new position in shares of Phillips 66 during the 4th quarter valued at about $336,000. Brighton Jones LLC boosted its holdings in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Trust Point Inc. grew its stake in shares of Phillips 66 by 14.6% during the 4th quarter. Trust Point Inc. now owns 2,265 shares of the oil and gas company's stock valued at $258,000 after buying an additional 289 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Phillips 66 by 24.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,705 shares of the oil and gas company's stock worth $4,803,000 after buying an additional 8,517 shares during the last quarter. Finally, Confluence Wealth Services Inc. boosted its holdings in Phillips 66 by 1.7% in the fourth quarter. Confluence Wealth Services Inc. now owns 6,741 shares of the oil and gas company's stock valued at $827,000 after acquiring an additional 114 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $112.12 on Friday. The business has a 50 day moving average price of $108.42 and a two-hundred day moving average price of $118.13. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The firm has a market cap of $45.68 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly 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). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The company had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter last year, the firm posted $1.90 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.28%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is presently 109.34%.

Insiders Place Their Bets

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on PSX shares. Wells Fargo & Company dropped their price target on Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. Barclays boosted their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Mizuho lifted their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $135.62.

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.

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.