Clearwater Capital Advisors LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Clearwater Capital Advisors LLC purchased a new position in Phillips 66 (NYSE:PSX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 22,097 shares of the oil and gas company’s stock, valued at approximately $2,729,000.

Several other institutional investors have also modified their holdings of PSX. Price T Rowe Associates Inc. MD increased its holdings in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Northern Trust Corp grew its holdings in Phillips 66 by 10.6% in the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock worth $522,834,000 after buying an additional 440,107 shares in the last quarter. Invesco Ltd. grew its holdings in Phillips 66 by 9.2% in the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company’s stock worth $468,551,000 after buying an additional 347,905 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Phillips 66 by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,014,113 shares of the oil and gas company’s stock worth $457,257,000 after purchasing an additional 357,705 shares during the period. Finally, Deutsche Bank AG lifted its position in Phillips 66 by 9.7% in the fourth quarter. Deutsche Bank AG now owns 2,579,365 shares of the oil and gas company’s stock worth $293,867,000 after purchasing an additional 227,095 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease acquired 439 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director directly owned 4,091 shares of the company’s stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sigmund L. Cornelius bought 500 shares of the stock in a transaction on Thursday, July 31st. The shares were acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the acquisition, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,939 shares of company stock worth $237,725 over the last ninety days. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Compass Point assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a “buy” rating for the company. Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Raymond James Financial set a $142.00 price objective on Phillips 66 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Tudor Pickering lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, UBS Group raised their target price on Phillips 66 from $141.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 28th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $136.13.

Phillips 66 Stock Down 3.2%

Shares of PSX opened at $119.59 on Friday. The stock has a market cap of $48.33 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 1.68 and a beta of 1.02. The company has a quick ratio of 0.88, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $140.85. The company has a 50-day moving average price of $122.41 and a two-hundred day moving average price of $118.90.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. Equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, August 19th. Phillips 66’s payout ratio is 115.38%.

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.