3,395 Shares in Phillips 66 $PSX Bought by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners bought a new position in shares of Phillips 66 (NYSE:PSX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,395 shares of the oil and gas company’s stock, valued at approximately $462,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. increased its stake in shares of Phillips 66 by 0.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after purchasing an additional 73 shares during the period. KCM Investment Advisors LLC boosted its stake in Phillips 66 by 1.6% during the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 74 shares during the period. Heck Capital Advisors LLC grew its holdings in Phillips 66 by 1.2% in the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after buying an additional 75 shares during the last quarter. Portside Wealth Group LLC increased its position in Phillips 66 by 3.8% in the 3rd quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock worth $277,000 after buying an additional 75 shares during the period. Finally, Cobblestone Capital Advisors LLC NY increased its position in Phillips 66 by 0.4% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 16,926 shares of the oil and gas company’s stock worth $2,302,000 after buying an additional 75 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This represents a 16.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total value of $2,835,516.32. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,380,590.72. The trade was a 14.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 38,088 shares of company stock valued at $6,147,655 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $169.41 on Thursday. The stock’s 50 day simple moving average is $149.69 and its 200-day simple moving average is $139.51. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The stock has a market cap of $67.89 billion, a PE ratio of 15.66, a P/E/G ratio of 0.56 and a beta of 0.86. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $169.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter in the previous year, the company earned ($0.15) earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. Phillips 66’s payout ratio is presently 46.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PSX shares. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a research report on Friday, February 6th. Scotiabank reaffirmed a “sector perform” rating and set a $140.00 target price on shares of Phillips 66 in a research report on Friday, January 16th. Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, UBS Group restated a “buy” rating and set a $172.00 price objective on shares of Phillips 66 in a report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.11.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.