Phillips 66 (NYSE:PSX) Shares Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 520,170 shares of the oil and gas company's stock after acquiring an additional 9,017 shares during the period. Phillips 66 makes up about 1.7% of Stonegate Investment Group LLC's investment portfolio, making the stock its 23rd largest position. Stonegate Investment Group LLC owned approximately 0.13% of Phillips 66 worth $64,231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock worth $1,064,601,000 after purchasing an additional 639,323 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after buying an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Northern Trust Corp grew its position in Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after buying an additional 440,107 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter valued at $497,648,000. 76.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the transaction, the executive vice president now owns 56,838 shares of the company's stock, valued at approximately $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease purchased 439 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director now owns 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Up 0.0%

PSX stock opened at $124.87 on Friday. The company has a 50 day moving average of $112.45 and a two-hundred day moving average of $117.24. The company has a market cap of $50.88 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.94 and a beta of 1.02. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analyst estimates 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 last year, the company posted $1.90 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PSX shares. The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research note on Thursday, March 27th. TD Cowen increased their price target on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. UBS Group cut their price objective on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Scotiabank reduced their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Finally, Morgan Stanley dropped their target price on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Eight 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 stock has an average rating of "Moderate Buy" and a consensus 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.

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