Todd Asset Management LLC Purchases 47,176 Shares of Phillips 66 (NYSE:PSX)

Key Points

• Todd Asset Management LLC increased its stake in Phillips 66 by 25.1% in the 1st quarter, owning around 0.06% of the company valued at approximately $29 million.
• Phillips 66 recently announced a quarterly dividend of $1.20, translating to an annualized rate of $4.80, which results in a yield of 4.0%.
• Research firms have issued various ratings on Phillips 66, with an average rating of "Moderate Buy" and a consensus target price of $136.20.

Todd Asset Management LLC boosted its position in Phillips 66 (NYSE:PSX - Free Report) by 25.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 235,017 shares of the oil and gas company's stock after purchasing an additional 47,176 shares during the period. Todd Asset Management LLC owned about 0.06% of Phillips 66 worth $29,020,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. Pacific Center for Financial Services acquired a new stake in Phillips 66 in the 4th quarter valued at about $27,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho raised their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Argus upgraded shares of Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Barclays raised their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Finally, Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating for the company. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average target price of $136.20.

Insiders Place Their Bets

In other news, Director Robert W. Pease acquired 439 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director directly owned 4,091 shares of the company's stock, valued at $465,760.35. The trade was a 12.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares of the company's stock, valued at $2,661,637.65. The trade was a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,939 shares of company stock valued at $237,725 over the last three months. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Price Performance

NYSE:PSX traded up $2.46 during mid-day trading on Wednesday, reaching $122.50. The stock had a trading volume of 2,359,149 shares, compared to its average volume of 2,514,303. The stock has a 50-day simple moving average of $123.45 and a two-hundred day simple moving average of $118.89. The stock has a market capitalization of $49.50 billion, a PE ratio of 29.45, a P/E/G ratio of 1.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $140.85.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period last year, the firm posted $2.31 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 115.38%.

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.