Vestmark Advisory Solutions Inc. Increases Stake in Phillips 66 $PSX

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Phillips 66 by 64.5% in Q1, owning 15,216 shares worth approximately $1.88 million at the end of the reporting period.
• Phillips 66 recently announced a quarterly dividend of $1.20 per share, which will be paid on September 2nd, resulting in an annualized yield of 3.9%.
• The company reported earnings of $2.38 EPS for the last quarter, exceeding analysts' expectations of $1.79, with total revenues of $33.77 billion.

Vestmark Advisory Solutions Inc. grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 64.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,216 shares of the oil and gas company's stock after purchasing an additional 5,967 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Phillips 66 were worth $1,879,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Phillips 66 by 283.5% during the 4th 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 purchasing an additional 4,455,220 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock valued at $588,489,000 after acquiring an additional 653,248 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after acquiring an additional 440,107 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Phillips 66 by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,014,113 shares of the oil and gas company's stock valued at $457,257,000 after acquiring an additional 357,705 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Phillips 66 by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company's stock valued at $466,886,000 after acquiring an additional 377,132 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Sigmund L. Cornelius acquired 500 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael A. Heim acquired 1,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the acquisition, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. This represents a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock worth $1,188,910 in the last ninety days. Company insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

Shares of PSX stock traded up $0.1270 on Thursday, reaching $123.6970. The company's stock had a trading volume of 337,313 shares, compared to its average volume of 3,322,839. The stock's fifty day simple moving average is $124.10 and its 200-day simple moving average is $118.96. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.85. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $49.99 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the previous year, the company posted $2.31 earnings per share. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TD Cowen upped their price objective on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and increased their target price for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research note on Wednesday, June 18th. Morgan Stanley upped their price target on Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Raymond James Financial set a $142.00 price objective on Phillips 66 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and an average price target of $136.20.

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.