QRG Capital Management Inc. Buys 6,443 Shares of Phillips 66 $PSX

Key Points

• QRG Capital Management increased its stake in Phillips 66 by 50.6% in Q4, buying 6,443 shares to hold 19,164 shares worth about $2.47 million.
• Phillips 66 reported Q1 EPS of $0.49, beating the consensus loss estimate (‑$0.54) on $32.54 billion of revenue, and announced a quarterly dividend of $1.27 (ex‑dividend May 18; yield ~3.0%).
• Analysts have been raising targets and ratings for PSX—Wells Fargo lifted its target to $201 and BMO to $195—leaving a MarketBeat average target of $184.50 and a consensus of "Moderate Buy."

QRG Capital Management Inc. increased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 50.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,164 shares of the oil and gas company's stock after buying an additional 6,443 shares during the quarter. QRG Capital Management Inc.'s holdings in Phillips 66 were worth $2,473,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Board of the Pension Protection Fund bought a new stake in Phillips 66 during the fourth quarter worth $26,000. Accordant Advisory Group Inc grew its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock worth $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Phillips 66 during the fourth quarter worth $27,000. Stephens Consulting LLC grew its holdings in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock worth $29,000 after buying an additional 90 shares in the last quarter. Finally, Dorato Capital Management bought a new stake in Phillips 66 during the fourth quarter worth $35,000. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PSX. Wall Street Zen upgraded Phillips 66 from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Wells Fargo & Company upped their price target on Phillips 66 from $163.00 to $201.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. Argus upped their price target on Phillips 66 from $152.00 to $185.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. BMO Capital Markets lifted their price target on Phillips 66 from $175.00 to $195.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $180.00 price target on shares of Phillips 66 in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $184.50.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $168.35 on Friday. The business's fifty day simple moving average is $168.80 and its 200 day simple moving average is $150.20. The firm has a market capitalization of $67.50 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70. Phillips 66 has a 12 month low of $106.34 and a 12 month high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business's revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.90) earnings per share. As a group, analysts anticipate that Phillips 66 will post 17.39 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 3.0%. Phillips 66's payout ratio is presently 50.05%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the business's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. The trade was a 16.31% 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, Director Lisa Ann Davis sold 3,800 shares of the business's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the sale, the director owned 8,701 shares in the company, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 91,529 shares of company stock valued at $15,740,519. 0.40% of the stock is currently owned by insiders.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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