Hilton Head Capital Partners LLC Purchases New Shares in Phillips 66 $PSX

Hilton Head Capital Partners LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,710 shares of the oil and gas company’s stock, valued at approximately $479,000.

Other hedge funds have also bought and sold shares of the company. Board of the Pension Protection Fund bought a new position in Phillips 66 during the fourth quarter valued at $26,000. Accordant Advisory Group Inc increased its position in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Phillips 66 during the fourth quarter valued at $27,000. Stephens Consulting LLC increased its position in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 90 shares during the last quarter. Finally, Dorato Capital Management bought a new position in Phillips 66 during the fourth quarter valued at $35,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.1%

NYSE PSX opened at $183.30 on Monday. The company’s 50-day moving average price is $172.76 and its 200-day moving average price is $156.30. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market cap of $73.49 billion, a PE ratio of 18.06, a PEG ratio of 0.27 and a beta of 0.68. Phillips 66 has a 12 month low of $112.95 and a 12 month high of $190.61.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.90) earnings per share. Equities research analysts forecast that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 92,229 shares of company stock valued at $15,990,030 in the last 90 days. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Wolfe Research boosted their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Barclays upped their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Finally, Wall Street Zen cut shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.28.

Phillips 66 Company 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.