Phillips 66 (NYSE:PSX) Shares Purchased by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP raised its position in shares of Phillips 66 (NYSE:PSX) by 125.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 371,548 shares of the oil and gas company’s stock after purchasing an additional 206,950 shares during the quarter. Phillips 66 accounts for 1.5% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 20th largest position. Kayne Anderson Capital Advisors LP’s holdings in Phillips 66 were worth $49,468,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Cardinal Capital Management increased its holdings in Phillips 66 by 0.3% in the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after buying an additional 77 shares during the period. Aaron Wealth Advisors LLC raised its holdings in shares of Phillips 66 by 3.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock worth $312,000 after purchasing an additional 82 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Phillips 66 by 3.9% in the fourth quarter. Benjamin Edwards Inc. now owns 2,271 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 85 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in Phillips 66 by 1.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock worth $865,000 after purchasing an additional 86 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Phillips 66 by 0.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after buying an additional 90 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $2.05 during mid-day trading on Thursday, reaching $148.99. 299,802 shares of the stock traded hands, compared to its average volume of 2,909,981. The stock has a market capitalization of $63.16 billion, a PE ratio of 11.30, a PEG ratio of 1.82 and a beta of 1.41. The business has a 50-day moving average of $155.48 and a 200 day moving average of $138.78. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

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 the consensus estimate of $2.05 by ($0.15). The firm 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 period in the prior year, the company posted $4.21 earnings per share. On average, analysts predict that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Analyst Upgrades and Downgrades

PSX has been the topic of several analyst reports. Piper Sandler raised their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Scotiabank lifted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Barclays lowered their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Finally, Bank of America increased their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.43.

Insider Buying and Selling

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

Phillips 66 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.