Hengehold Capital Management LLC Acquires Shares of 1,263 Phillips 66 (NYSE:PSX)

Hengehold Capital Management LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,263 shares of the oil and gas company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. O Shaughnessy Asset Management LLC lifted its stake in Phillips 66 by 9.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 47,872 shares of the oil and gas company’s stock valued at $5,752,000 after acquiring an additional 4,065 shares during the period. Mutual Advisors LLC lifted its stake in Phillips 66 by 2.9% during the 3rd quarter. Mutual Advisors LLC now owns 8,425 shares of the oil and gas company’s stock valued at $1,012,000 after acquiring an additional 234 shares during the period. Tower Research Capital LLC TRC lifted its stake in Phillips 66 by 369.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 27,135 shares of the oil and gas company’s stock valued at $3,260,000 after acquiring an additional 21,355 shares during the period. Bank of Nova Scotia lifted its stake in Phillips 66 by 591.7% during the 3rd quarter. Bank of Nova Scotia now owns 301,386 shares of the oil and gas company’s stock valued at $36,212,000 after acquiring an additional 257,815 shares during the period. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Phillips 66 by 43.5% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 597 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 181 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.3 %

Phillips 66 stock traded down $0.38 during mid-day trading on Thursday, hitting $139.40. The company had a trading volume of 1,845,117 shares, compared to its average volume of 2,734,509. The stock has a market cap of $59.10 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 2.08 and a beta of 1.37. Phillips 66 has a 1 year low of $91.78 and a 1 year high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $143.46 and a 200 day moving average of $144.50.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the company posted $4.21 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 11.22 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.30%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PSX shares. Mizuho cut their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays decreased their target price on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Argus reiterated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Finally, TD Cowen cut their price target on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $157.79.

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.