Baxter Bros Inc. Purchases 139 Shares of Phillips 66 (NYSE:PSX)

Baxter Bros Inc. lifted its position in Phillips 66 (NYSE:PSX) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,577 shares of the oil and gas company’s stock after acquiring an additional 139 shares during the quarter. Baxter Bros Inc.’s holdings in Phillips 66 were worth $3,805,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC boosted its stake in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 151 shares in the last quarter. Signature Resources Capital Management LLC bought a new position in shares of Phillips 66 in the 4th quarter worth $33,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth $36,000. Bell Investment Advisors Inc boosted its position in Phillips 66 by 82.1% during the third 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. Finally, West Branch Capital LLC grew its stake in Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on PSX shares. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Piper Sandler lifted their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Wells Fargo & Company increased their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Raymond James boosted their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. increased their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Stock Performance

Shares of PSX stock traded down $0.26 during trading hours on Friday, hitting $143.61. The company’s stock had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $155.55 and a 200 day moving average of $138.03. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The stock has a market cap of $60.88 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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 business had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the company posted $4.21 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Insider Buying and Selling at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s 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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 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 completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company insiders.

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.