Retirement Planning Co of New England Inc. Acquires 2,081 Shares of Phillips 66 (NYSE:PSX)

Retirement Planning Co of New England Inc. increased its position in Phillips 66 (NYSE:PSX - Free Report) by 33.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,287 shares of the oil and gas company's stock after purchasing an additional 2,081 shares during the period. Retirement Planning Co of New England Inc.'s holdings in Phillips 66 were worth $1,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Pacific Center for Financial Services bought a new position in Phillips 66 in the fourth quarter worth about $27,000. von Borstel & Associates Inc. bought a new position in Phillips 66 in the first quarter worth about $27,000. Graney & King LLC bought a new position in Phillips 66 in the fourth quarter worth about $28,000. Olde Wealth Management LLC bought a new position in Phillips 66 in the first quarter worth about $28,000. Finally, Wood Tarver Financial Group LLC bought a new position in Phillips 66 in the fourth quarter worth about $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $0.85 during trading on Friday, hitting $126.03. The company had a trading volume of 3,256,697 shares, compared to its average volume of 3,131,471. The company has a market cap of $51.35 billion, a P/E ratio of 28.71, a PEG ratio of 1.99 and a beta of 1.02. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The business's 50-day moving average is $121.05 and its 200 day moving average is $118.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23.

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 the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The firm had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's payout ratio is 109.34%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Barclays raised their target price 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. Scotiabank reaffirmed a "sector perform" rating and set a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. Morgan Stanley set a $128.00 price target on Phillips 66 and gave the company an "equal weight" rating in a report on Wednesday. Finally, Tudor Pickering cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $135.27.

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.