Strategic Planning Group LLC Grows Position in Phillips 66 (NYSE:PSX)

Strategic Planning Group LLC lifted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 23.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,348 shares of the oil and gas company's stock after buying an additional 6,774 shares during the period. Strategic Planning Group LLC's holdings in Phillips 66 were worth $4,365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Bogart Wealth LLC increased its position in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $25,000. Pacific Center for Financial Services purchased a new position in Phillips 66 during the 4th quarter valued at about $27,000. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after buying an additional 111 shares in the last quarter. Finally, Graney & King LLC purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $28,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 2.0%

NYSE PSX traded up $2.28 on Friday, hitting $114.51. 2,821,031 shares of the stock were exchanged, compared to its average volume of 3,027,019. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a fifty day moving average price of $108.22 and a two-hundred day moving average price of $118.02. The firm has a market capitalization of $46.65 billion, a P/E ratio of 23.18, a P/E/G ratio of 4.84 and a beta of 1.02. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm 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. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.19%. Phillips 66's payout ratio is presently 109.34%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Scotiabank dropped their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Barclays increased their price target on Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. Finally, Tudor Pickering cut 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $135.62.

Insider Activity at Phillips 66

In related news, Director Robert W. Pease acquired 439 shares of the stock in a transaction on 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 transaction, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by insiders.

Phillips 66 Company 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.