Clear Trail Advisors LLC Invests $588,000 in Phillips 66 $PSX

Clear Trail Advisors LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the first quarter, HoldingsChannel reports. The firm acquired 3,226 shares of the oil and gas company’s stock, valued at approximately $588,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Phillips 66 during the fourth quarter worth $640,206,000. M&T Bank Corp lifted its holdings in shares of Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after acquiring an additional 2,243,268 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Phillips 66 by 424.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after acquiring an additional 1,532,389 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at about $107,967,000. Finally, NewEdge Advisors LLC boosted its position in shares of Phillips 66 by 732.0% during the 4th quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock valued at $128,647,000 after acquiring an additional 877,131 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

NYSE:PSX opened at $168.21 on Tuesday. The firm has a market cap of $67.44 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.24 and a beta of 0.68. Phillips 66 has a 12 month low of $118.00 and a 12 month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $172.09 and its two-hundred day moving average price is $159.28.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the prior year, the firm earned ($0.90) earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 will post 18.22 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Wall Street Analyst Weigh In

PSX has been the subject of several recent research reports. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Raymond James Financial lifted their price objective on Phillips 66 from $215.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Morgan Stanley upped their price objective on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. raised their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Finally, Argus boosted their price target on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.33.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were bought 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 of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This trade represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,629 shares of company stock valued at $8,071,540 over the last ninety days. Insiders own 0.40% of the company’s stock.

About Phillips 66

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.