Fisher Asset Management LLC increased its holdings in shares of Phillips 66 (NYSE:PSX – Get Rating) by 20.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,325 shares of the oil and gas company’s stock after purchasing an additional 891 shares during the period. Fisher Asset Management LLC’s holdings in Phillips 66 were worth $554,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in PSX. Hallmark Capital Management Inc. grew its stake in Phillips 66 by 62.5% during the third quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 125 shares during the period. Align Wealth Management LLC acquired a new stake in Phillips 66 during the fourth quarter worth approximately $28,000. MADDEN SECURITIES Corp acquired a new stake in Phillips 66 during the fourth quarter worth approximately $30,000. Glassy Mountain Advisors Inc. acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $31,000. Finally, Romano Brothers AND Company acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 70.76% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, January 20th. Wells Fargo & Company dropped their price target on Phillips 66 from $130.00 to $120.00 in a report on Tuesday, April 18th. JPMorgan Chase & Co. boosted their target price on Phillips 66 from $112.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, March 28th. Raymond James boosted their price objective on Phillips 66 from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Finally, Mizuho reiterated a “neutral” rating and set a $120.00 price objective on shares of Phillips 66 in a research note on Tuesday, April 11th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.64.
Phillips 66 Price Performance
Phillips 66 (NYSE:PSX – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). The business had revenue of $40.91 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same period in the previous year, the company earned $2.94 EPS. Equities analysts predict that Phillips 66 will post 15.77 earnings per share for the current fiscal year.
Phillips 66 Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 21st were given a dividend of $1.05 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, February 17th. This represents a $4.20 dividend on an annualized basis and a yield of 4.24%. Phillips 66’s dividend payout ratio is presently 18.30%.
Insider Buying and Selling at Phillips 66
In other Phillips 66 news, Director Gregory Hayes purchased 10,250 shares of the stock in a transaction on Thursday, February 2nd. The stock was acquired at an average price of $97.75 per share, with a total value of $1,001,937.50. Following the transaction, the director now directly owns 14,299 shares of the company’s stock, valued at approximately $1,397,727.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.57% of the stock is currently owned by corporate insiders.
Phillips 66 Profile
Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.
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