16,095 Shares in Phillips 66 (NYSE:PSX) Purchased by Principal Securities Inc.

Principal Securities Inc. acquired a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,095 shares of the oil and gas company's stock, valued at approximately $2,143,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Cornerstone Planning Group LLC boosted its stake in Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company's stock worth $32,000 after buying an additional 151 shares during the last quarter. Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $33,000. Bruce G. Allen Investments LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $36,000. Gladius Capital Management LP acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $36,000. Finally, Bell Investment Advisors Inc lifted its stake in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSX. Piper Sandler lifted their price objective on Phillips 66 from $169.00 to $187.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. Mizuho reduced their price target on Phillips 66 from $167.00 to $162.00 and set a "neutral" rating on the stock in a research report on Friday, April 12th. Bank of America boosted their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, March 15th. The Goldman Sachs Group boosted their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. Finally, StockNews.com downgraded Phillips 66 from a "buy" rating to a "hold" rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

Phillips 66 Stock Performance

NYSE:PSX traded down $2.16 during midday trading on Friday, reaching $145.56. 1,808,432 shares of the company traded hands, compared to its average volume of 2,315,030. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The firm has a market capitalization of $61.71 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The company has a fifty day moving average price of $155.70 and a 200 day moving average price of $138.90.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the prior year, the firm earned $4.21 EPS. On average, analysts expect that Phillips 66 will post 13 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66's previous quarterly dividend of $1.05. Phillips 66's payout ratio is 32.31%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company's stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by company insiders.

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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