Phillips 66 (NYSE:PSX) Shares Bought by CVA Family Office LLC

CVA Family Office LLC increased its holdings in Phillips 66 (NYSE:PSX – Get Rating) by 29.0% in the third quarter, HoldingsChannel.com reports. The firm owned 668 shares of the oil and gas company’s stock after buying an additional 150 shares during the quarter. CVA Family Office LLC’s holdings in Phillips 66 were worth $54,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. IHT Wealth Management LLC raised its holdings in Phillips 66 by 41.7% in the 3rd quarter. IHT Wealth Management LLC now owns 6,156 shares of the oil and gas company’s stock worth $497,000 after purchasing an additional 1,812 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Phillips 66 by 137.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 31,759 shares of the oil and gas company’s stock worth $2,564,000 after purchasing an additional 18,358 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in Phillips 66 in the 3rd quarter worth about $20,728,000. FourThought Financial LLC raised its holdings in Phillips 66 by 16.6% in the 3rd quarter. FourThought Financial LLC now owns 81,294 shares of the oil and gas company’s stock worth $6,562,000 after purchasing an additional 11,556 shares during the period. Finally, 17 Capital Partners LLC raised its holdings in Phillips 66 by 12.6% in the 3rd quarter. 17 Capital Partners LLC now owns 12,071 shares of the oil and gas company’s stock worth $974,000 after purchasing an additional 1,351 shares during the period. Institutional investors and hedge funds own 70.76% of the company’s stock.

Phillips 66 Trading Up 1.5 %

Shares of Phillips 66 stock opened at $95.05 on Friday. The firm has a market capitalization of $44.09 billion, a price-to-earnings ratio of 4.14, a PEG ratio of 0.33 and a beta of 1.37. Phillips 66 has a fifty-two week low of $74.02 and a fifty-two week high of $113.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.38. The stock has a 50 day moving average of $102.75 and a 200 day moving average of $99.38.

Phillips 66 (NYSE:PSX – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.35). The business had revenue of $40.91 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 31.20% and a net margin of 6.27%. During the same quarter in the previous year, the company posted $2.94 earnings per share. As a group, research analysts predict that Phillips 66 will post 15.68 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 4.42%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, February 17th. Phillips 66’s dividend payout ratio is presently 18.30%.

Insiders Place Their Bets

In other news, Director Gregory Hayes purchased 10,250 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were bought at an average cost of $97.75 per share, for a total transaction of $1,001,937.50. Following the completion of the purchase, the director now directly owns 14,299 shares of the company’s stock, valued at $1,397,727.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on PSX shares. Raymond James boosted their price objective on Phillips 66 from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, January 13th. UBS Group started coverage on Phillips 66 in a research note on Wednesday, March 8th. They set a “buy” rating and a $139.00 price objective for the company. Wells Fargo & Company cut their price objective on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, January 5th. Mizuho cut their price objective on Phillips 66 from $121.00 to $120.00 in a research note on Friday, March 10th. Finally, Piper Sandler cut their price objective on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a research note on Monday, December 19th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $121.27.

Phillips 66 Company Profile

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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.