Chicago Capital LLC Acquires New Stake in Phillips 66 (NYSE:PSX)

Chicago Capital LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,642 shares of the oil and gas company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Eldred Rock Partners LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $10,402,000. Choate Investment Advisors purchased a new position in shares of Phillips 66 during the 3rd quarter worth approximately $247,000. First Dallas Securities Inc. acquired a new stake in Phillips 66 in the 3rd quarter valued at approximately $753,000. 17 Capital Partners LLC acquired a new position in Phillips 66 during the fourth quarter worth $1,586,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Phillips 66 by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 238,106 shares of the oil and gas company’s stock valued at $28,608,000 after buying an additional 35,829 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In related news, Director Robert W. Pease purchased 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. 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. Corporate insiders own 4.57% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research reports. TD Cowen increased their target price on shares of Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. Citigroup assumed coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Finally, Mizuho increased their price objective on shares of Phillips 66 from $135.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $152.31.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $163.33 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The company has a market capitalization of $69.88 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37. The stock has a fifty day moving average of $147.67 and a 200-day moving average of $130.95. Phillips 66 has a one year low of $89.74 and a one year high of $163.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, equities analysts anticipate that Phillips 66 will post 12.85 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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

About Phillips 66

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.