Segment Wealth Management LLC Raises Stake in Phillips 66 (NYSE:PSX)

Segment Wealth Management LLC increased its position in Phillips 66 (NYSE:PSX - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,700 shares of the oil and gas company's stock after purchasing an additional 3,233 shares during the quarter. Segment Wealth Management LLC's holdings in Phillips 66 were worth $1,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after buying an additional 4,455,220 shares during the period. Norges Bank bought a new stake in Phillips 66 during the fourth quarter valued at about $497,648,000. Raymond James Financial Inc. purchased a new position in Phillips 66 in the fourth quarter valued at about $168,790,000. Capitolis Liquid Global Markets LLC bought a new position in Phillips 66 in the fourth quarter worth about $142,185,000. Finally, GAMMA Investing LLC lifted its position in shares of Phillips 66 by 14,119.5% during the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock valued at $146,893,000 after buying an additional 1,181,240 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $124.98 on Friday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. 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 company has a market cap of $50.92 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The company's 50 day moving average is $111.89 and its 200 day moving average is $117.30.

Phillips 66 (NYSE:PSX - Get Free Report) last released 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 business had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter in the previous year, the company earned $1.90 EPS. On average, sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research report on Wednesday. They issued a "neutral" rating on the stock. TD Cowen lifted their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Evercore ISI began coverage on Phillips 66 in a research report on Wednesday. They set an "outperform" rating and a $130.00 price target on the stock. Barclays raised their price objective on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Scotiabank decreased their price target on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and an average price target of $133.93.

Insider Activity

In related news, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, the director now owns 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.22% of the company's stock.

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.

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