Quotient Wealth Partners LLC Boosts Stock Position in Phillips 66 (NYSE:PSX)

Quotient Wealth Partners LLC grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,410 shares of the oil and gas company's stock after purchasing an additional 3,736 shares during the period. Quotient Wealth Partners LLC's holdings in Phillips 66 were worth $4,866,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Forum Financial Management LP lifted its position in Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock valued at $853,000 after acquiring an additional 77 shares during the period. Tortoise Investment Management LLC grew its stake in shares of Phillips 66 by 16.1% in the 4th quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company's stock worth $72,000 after buying an additional 88 shares during the last quarter. Smith Moore & CO. increased its position in Phillips 66 by 0.9% during the 4th quarter. Smith Moore & CO. now owns 10,732 shares of the oil and gas company's stock valued at $1,223,000 after buying an additional 91 shares in the last quarter. CWC Advisors LLC. increased its position in Phillips 66 by 1.0% during the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock valued at $1,110,000 after buying an additional 92 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Phillips 66 by 14.4% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock valued at $95,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares of the company's stock, valued at $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares of the company's stock, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PSX has been the subject of several analyst reports. Compass Point initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They set a "buy" rating for the company. Mizuho upped their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley cut their target price on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average price target of $134.79.

Phillips 66 Stock Performance

Phillips 66 stock traded up $0.74 during trading on Wednesday, reaching $130.74. The company had a trading volume of 3,160,573 shares, compared to its average volume of 3,117,642. The firm has a market capitalization of $53.27 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm's 50-day simple moving average is $117.83 and its 200 day simple moving average is $117.34. 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 posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same period in the previous year, the firm earned $1.90 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $1.20 dividend. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 3.67%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is currently 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.