Phillips 66 (NYSE:PSX) Position Lifted by F&V Capital Management LLC

F&V Capital Management LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 0.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,465 shares of the oil and gas company’s stock after purchasing an additional 395 shares during the quarter. Phillips 66 comprises about 6.1% of F&V Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. F&V Capital Management LLC’s holdings in Phillips 66 were worth $20,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. West Paces Advisors Inc. increased its position in Phillips 66 by 4.0% during the first quarter. West Paces Advisors Inc. now owns 4,518 shares of the oil and gas company’s stock worth $738,000 after purchasing an additional 175 shares during the last quarter. Community Bank of Raymore increased its holdings in shares of Phillips 66 by 25.6% during the 1st quarter. Community Bank of Raymore now owns 1,962 shares of the oil and gas company’s stock worth $320,000 after buying an additional 400 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Phillips 66 in the 1st quarter worth $183,000. Annex Advisory Services LLC boosted its holdings in Phillips 66 by 17.4% in the first quarter. Annex Advisory Services LLC now owns 121,608 shares of the oil and gas company’s stock valued at $19,864,000 after acquiring an additional 18,002 shares during the last quarter. Finally, Gateway Investment Advisers LLC grew its position in Phillips 66 by 19.8% during the first quarter. Gateway Investment Advisers LLC now owns 11,705 shares of the oil and gas company’s stock valued at $1,912,000 after acquiring an additional 1,934 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Down 0.3 %

Shares of PSX traded down $0.47 during trading on Wednesday, reaching $139.77. The company’s stock had a trading volume of 1,517,575 shares, compared to its average volume of 2,741,781. The company has a market cap of $59.26 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 2.08 and a beta of 1.37. 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 company has a fifty day moving average of $143.81 and a two-hundred day moving average of $144.53. Phillips 66 has a twelve month low of $91.18 and a twelve month high of $174.08.

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

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a $1.15 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, May 17th. Phillips 66’s payout ratio is currently 35.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. The Goldman Sachs Group lifted 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. Mizuho dropped their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. TD Cowen reduced their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Finally, Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.