Phillips 66 (NYSE:PSX) Shares Bought by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. lifted its position in shares of Phillips 66 (NYSE:PSX) by 10.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,700 shares of the oil and gas company’s stock after buying an additional 431 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Phillips 66 were worth $609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. First Capital Advisors Group LLC. acquired a new stake in shares of Phillips 66 during the second quarter valued at $25,000. Cornerstone Planning Group LLC boosted its stake in shares of Phillips 66 by 134.8% during the 3rd 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. Worth Asset Management LLC purchased a new stake in shares of Phillips 66 during the first quarter worth about $32,000. Bruce G. Allen Investments LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $36,000. Finally, Bell Investment Advisors Inc lifted its stake in shares of Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 138 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on PSX shares. Citigroup assumed coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Bank of America raised their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Raymond James upped their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. TD Cowen boosted their price target on Phillips 66 from $134.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, December 4th. Finally, The Goldman Sachs Group lifted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $151.08.

Phillips 66 Stock Up 2.8 %

PSX stock traded up $4.38 during mid-day trading on Friday, hitting $163.34. 3,177,289 shares of the company were exchanged, compared to its average volume of 3,275,951. The company has a market capitalization of $69.88 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The firm has a fifty day simple moving average of $146.98 and a 200 day simple moving average of $130.57. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $163.79.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. On average, research analysts forecast that Phillips 66 will post 12.85 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were paid a dividend of $1.05 per share. The ex-dividend date was Friday, February 16th. This represents a $4.20 annualized dividend and a yield of 2.57%. Phillips 66’s payout ratio is 27.15%.

Insiders Place Their Bets

In related news, EVP Zhanna Golodryga sold 5,253 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $135.00, for a total transaction of $709,155.00. Following the completion of the sale, the executive vice president now owns 24,914 shares of the company’s stock, valued at approximately $3,363,390. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Zhanna Golodryga sold 5,253 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $135.00, for a total transaction of $709,155.00. Following the completion of the transaction, the executive vice president now owns 24,914 shares of the company’s stock, valued at $3,363,390. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,309 shares of company stock valued at $5,981,836. Company insiders own 4.57% of the company’s stock.

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.