Bellwether Advisors LLC Invests $37,000 in Phillips 66 (NYSE:PSX)

Bellwether Advisors LLC bought a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 329 shares of the oil and gas company’s stock, valued at approximately $37,000.

Several other large investors have also recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its stake in Phillips 66 by 10.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after acquiring an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. purchased a new position in Phillips 66 during the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. purchased a new position in Phillips 66 during the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $1,149,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.8 %

NYSE:PSX opened at $105.80 on Tuesday. The company has a fifty day moving average of $115.31 and a 200 day moving average of $120.83. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $152.19. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $43.11 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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 net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. On average, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $1.20 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Monday, May 19th. Phillips 66’s dividend payout ratio is currently 97.17%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research note on Thursday, March 27th. Morgan Stanley cut their price target on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Scotiabank cut their price target 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. Finally, Mizuho cut their price target on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.07.

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.