Farmers & Merchants Investments Inc. Raises Holdings in Phillips 66 (NYSE:PSX)

Farmers & Merchants Investments Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSXFree Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,303 shares of the oil and gas company’s stock after buying an additional 471 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Phillips 66 were worth $4,967,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Capital Advisors Group LLC. purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 in the 4th quarter valued at approximately $36,000. Finally, Bell Investment Advisors Inc increased its stake in Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX stock opened at $169.49 on Wednesday. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $169.70. The stock’s fifty day simple moving average is $148.34 and its 200-day simple moving average is $131.24. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $72.51 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The business had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Equities research analysts expect that Phillips 66 will post 12.85 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66’s payout ratio is currently 27.15%.

Insider Activity at Phillips 66

In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,056 shares of company stock worth $5,272,681. 4.57% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PSX. Citigroup began coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. The Goldman Sachs Group raised their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Bank of America raised their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, Raymond James raised their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $152.31.

View Our Latest Stock Analysis on PSX

Phillips 66 Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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