Quadrant Capital Group LLC Grows Position in Phillips 66 (NYSE:PSX)

Quadrant Capital Group LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,076 shares of the oil and gas company’s stock after buying an additional 351 shares during the quarter. Quadrant Capital Group LLC’s holdings in Phillips 66 were worth $676,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PSX. First United Bank & Trust purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $31,000. Cornerstone Planning Group LLC boosted its holdings in Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Signature Resources Capital Management LLC bought a new stake in Phillips 66 in the 4th quarter worth approximately $33,000. Bruce G. Allen Investments LLC purchased a new stake in Phillips 66 during the 4th quarter valued at $36,000. Finally, Gladius Capital Management LP bought a new position in shares of Phillips 66 during the 4th quarter valued at $36,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction on 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 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 legal filing with the SEC, which is accessible through this hyperlink. 0.22% of the stock is owned by company insiders.

Phillips 66 Price Performance

NYSE:PSX traded up $2.65 on Friday, reaching $147.35. 1,204,861 shares of the company’s stock traded hands, compared to its average volume of 2,853,023. The stock has a 50-day simple moving average of $155.64 and a 200-day simple moving average of $140.09. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The firm has a market cap of $62.47 billion, a PE ratio of 11.19, a P/E/G ratio of 1.97 and a beta of 1.41. 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 released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the prior year, the business posted $4.21 EPS. Equities research analysts forecast that Phillips 66 will post 12.38 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 32.31%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler cut their price objective on Phillips 66 from $187.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday. Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Scotiabank increased their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $156.21.

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.