Phillips 66 (NYSE:PSX) Stake Increased by Demars Financial Group LLC

Demars Financial Group LLC increased its stake in Phillips 66 (NYSE:PSX - Free Report) by 21.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 541,707 shares of the oil and gas company's stock after buying an additional 95,671 shares during the period. Demars Financial Group LLC owned about 0.13% of Phillips 66 worth $66,890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. increased its stake in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock worth $5,349,000 after buying an additional 4,515 shares during the last quarter. Corps Capital Advisors LLC bought a new position in Phillips 66 during the fourth quarter worth $412,000. Cohen & Steers Inc. lifted its stake in Phillips 66 by 40.3% during the fourth quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company's stock worth $10,443,000 after purchasing an additional 26,318 shares during the last quarter. American Assets Investment Management LLC lifted its stake in Phillips 66 by 2.3% during the fourth quarter. American Assets Investment Management LLC now owns 130,800 shares of the oil and gas company's stock worth $14,902,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Phillips 66 by 71.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 21,231 shares of the oil and gas company's stock worth $2,419,000 after purchasing an additional 8,838 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research analyst reports. Raymond James reduced their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company reduced their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a research note on Thursday, March 27th. UBS Group reduced their price objective on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.46.

Insider Activity

In other news, Director Robert W. Pease bought 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased 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 directly owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

Shares of PSX opened at $123.60 on Tuesday. The firm has a market capitalization of $50.36 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The stock's fifty day moving average is $110.46 and its 200-day moving average is $117.28.

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) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the business posted $1.90 earnings per share. Equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current 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 issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is 109.34%.

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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