Rhumbline Advisers Acquires 23,839 Shares of Phillips 66 (NYSE:PSX)

Rhumbline Advisers increased its stake in Phillips 66 (NYSE:PSX - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 789,440 shares of the oil and gas company's stock after buying an additional 23,839 shares during the period. Rhumbline Advisers owned 0.19% of Phillips 66 worth $97,480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bogart Wealth LLC raised its holdings in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in Phillips 66 in the fourth quarter worth about $25,000. Pacific Center for Financial Services purchased a new position in shares of Phillips 66 during the 4th quarter valued at $27,000. Stephens Consulting LLC lifted its holdings in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Finally, Graney & King LLC bought a new position in Phillips 66 during the fourth quarter valued at approximately $28,000. Institutional investors own 76.93% of the company's stock.

Insider Transactions at Phillips 66

In other news, Director Robert W. Pease acquired 439 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley dropped their price target 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. UBS Group cut their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Raymond James lowered their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Mizuho increased their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average price target of $135.62.

Phillips 66 Stock Up 0.6%

Shares of PSX stock traded up $0.63 during mid-day trading on Thursday, reaching $113.11. 925,578 shares of the company were exchanged, compared to its average volume of 3,005,960. The company has a market capitalization of $46.09 billion, a P/E ratio of 22.89, a P/E/G ratio of 4.84 and a beta of 1.01. The business's 50 day simple moving average is $108.65 and its 200 day simple moving average is $118.26. 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 fifty-two week low of $91.01 and a fifty-two week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results 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). The business had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the firm earned $1.90 EPS. Research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.20 dividend. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Monday, May 19th. 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.