Phillips 66 (NYSE:PSX) Shares Acquired by LPL Financial LLC

LPL Financial LLC grew its stake in Phillips 66 (NYSE:PSX - Free Report) by 17.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 861,772 shares of the oil and gas company's stock after acquiring an additional 127,288 shares during the period. LPL Financial LLC owned about 0.21% of Phillips 66 worth $106,412,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Geode Capital Management LLC increased its stake in Phillips 66 by 1.0% during the 4th 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 during the period. Price T Rowe Associates Inc. MD increased its stake in Phillips 66 by 283.5% during the 4th 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 period. Northern Trust Corp increased its stake in Phillips 66 by 10.6% during the 4th 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 period. Invesco Ltd. increased its stake in Phillips 66 by 9.2% during the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company's stock worth $468,551,000 after buying an additional 347,905 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Phillips 66 by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,014,113 shares of the oil and gas company's stock worth $457,257,000 after buying an additional 357,705 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Morgan Stanley boosted their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Evercore ISI assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price target for the company. Barclays boosted their price target on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Finally, Compass Point assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating for the company. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $136.13.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president owned 43,373 shares of the company's stock, valued at approximately $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

NYSE:PSX traded down $3.99 during mid-day trading on Friday, hitting $119.59. 2,115,491 shares of the company's stock traded hands, compared to its average volume of 3,473,188. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.07. The firm's 50 day simple moving average is $122.28 and its 200 day simple moving average is $118.88. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.85. The company has a market cap of $48.33 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period last year, the firm posted $2.31 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.0%. Phillips 66's payout ratio is 115.38%.

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.