Plato Investment Management Ltd Boosts Stock Position in Phillips 66 (NYSE:PSX)

Plato Investment Management Ltd boosted its holdings in Phillips 66 (NYSE:PSX) by 893.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,175 shares of the oil and gas company’s stock after buying an additional 4,654 shares during the quarter. Plato Investment Management Ltd’s holdings in Phillips 66 were worth $845,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Western Pacific Wealth Management LP purchased a new position in shares of Phillips 66 during the first quarter worth about $138,000. Vista Investment Partners LLC grew its holdings in shares of Phillips 66 by 19.6% during the first quarter. Vista Investment Partners LLC now owns 8,317 shares of the oil and gas company’s stock worth $1,358,000 after purchasing an additional 1,365 shares during the last quarter. Beacon Capital Management LLC grew its holdings in shares of Phillips 66 by 75.5% during the first quarter. Beacon Capital Management LLC now owns 509 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 219 shares during the last quarter. Global Financial Private Client LLC grew its holdings in shares of Phillips 66 by 321.1% during the first quarter. Global Financial Private Client LLC now owns 4,156 shares of the oil and gas company’s stock worth $679,000 after purchasing an additional 3,169 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of Phillips 66 by 15.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 38,175 shares of the oil and gas company’s stock worth $6,236,000 after purchasing an additional 5,089 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Scotiabank decreased their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Argus reiterated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.23.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value 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 approximately $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock traded down $6.99 during mid-day trading on Friday, reaching $133.96. The company had a trading volume of 1,640,715 shares, compared to its average volume of 2,669,744. Phillips 66 has a 1 year low of $107.41 and a 1 year high of $174.08. 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 market capitalization of $56.79 billion, a P/E ratio of 10.84, a P/E/G ratio of 2.58 and a beta of 1.34. The stock’s 50-day simple moving average is $139.15 and its 200-day simple moving average is $145.72.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.64%. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period last year, the company posted $3.87 EPS. The company’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts predict that Phillips 66 will post 9.4 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.43%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

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.