1,746 Shares in Phillips 66 (NYSE:PSX) Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. bought a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,746 shares of the oil and gas company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale boosted its stake in Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC bought a new position in shares of Phillips 66 during the fourth quarter worth $10,402,000. Choate Investment Advisors acquired a new position in shares of Phillips 66 in the 3rd quarter valued at $247,000. First Dallas Securities Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth $753,000. Finally, TIAA Trust National Association lifted its holdings in Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after acquiring an additional 3,670 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE:PSX opened at $140.17 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The stock’s 50 day moving average price is $155.67 and its two-hundred day moving average price is $137.76. The firm has a market capitalization of $59.43 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company 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 quarter in the prior year, the firm earned $4.21 earnings per share. On average, analysts anticipate that Phillips 66 will post 13.13 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.28%. Phillips 66’s dividend payout ratio is presently 32.31%.

Insider Buying and Selling

In other news, Director Robert W. Pease acquired 682 shares of the stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock valued at $5,272,681. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSX. Mizuho dropped their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Raymond James upped their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Bank of America boosted their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Piper Sandler increased their price objective on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Five 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.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

About Phillips 66

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.