Stratos Investment Management LLC Has $3.67 Million Holdings in Phillips 66 (NYSE:PSX)

Stratos Investment Management LLC boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 24.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 29,683 shares of the oil and gas company's stock after buying an additional 5,762 shares during the period. Stratos Investment Management LLC's holdings in Phillips 66 were worth $3,665,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PSX. Pacific Center for Financial Services acquired a new stake in Phillips 66 during the 4th quarter worth approximately $27,000. von Borstel & Associates Inc. acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $27,000. Graney & King LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $28,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $28,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent research reports. Evercore ISI initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price objective on the stock. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a report on Thursday, March 27th. Finally, Scotiabank decreased their target price on shares of 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 equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $134.79.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction dated Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director owned 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the sale, the executive vice president directly owned 43,373 shares of the company's stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

PSX stock traded up $0.74 during midday trading on Wednesday, reaching $130.74. 3,160,573 shares of the company were exchanged, compared to its average volume of 3,117,642. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. The business has a 50-day moving average price of $117.83 and a two-hundred day moving average price of $117.34. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. 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.

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) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The company had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same period last year, the firm earned $1.90 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Monday, May 19th. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is presently 109.34%.

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.