Raymond James Financial Services Advisors Inc. grew its stake in shares of Phillips 66 (NYSE:PSX) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 332,426 shares of the oil and gas company’s stock after purchasing an additional 4,210 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Phillips 66 were worth $31,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Harvest Group Wealth Management LLC bought a new position in Phillips 66 in the 1st quarter valued at $31,000. Burt Wealth Advisors raised its holdings in shares of Phillips 66 by 285.7% in the 1st quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 300 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Phillips 66 by 46.1% in the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 137 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $37,000. Finally, Truehand Inc bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $40,000. 71.83% of the stock is owned by institutional investors and hedge funds.

In other news, Director John E. Lowe purchased 2,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was bought at an average cost of $84.41 per share, with a total value of $168,820.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Greg C. Garland sold 42,728 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total value of $4,170,680.08. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

NYSE PSX traded up $0.82 during trading hours on Thursday, hitting $88.12. The company had a trading volume of 12,350 shares, compared to its average volume of 2,678,004. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week high of $123.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.84. The firm has a market capitalization of $38.91 billion, a PE ratio of 7.51, a P/E/G ratio of 1.36 and a beta of 0.91.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. The firm had revenue of $23.66 billion for the quarter, compared to analyst estimates of $24.66 billion. During the same period last year, the company earned $1.04 earnings per share. Equities research analysts expect that Phillips 66 will post 7.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $0.90 dividend. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a yield of 4.09%. Phillips 66’s dividend payout ratio (DPR) is currently 27.33%.

PSX has been the topic of a number of research reports. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Argus cut their price objective on shares of Phillips 66 to $116.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Citigroup boosted their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and upped their price target for the stock from $105.00 to $107.00 in a report on Monday, April 15th. Finally, ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Phillips 66 has a consensus rating of “Hold” and an average target price of $120.67.

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Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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