Simplicity Solutions LLC Acquires 362 Shares of Phillips 66 (NYSE:PSX)

Simplicity Solutions LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,242 shares of the oil and gas company’s stock after buying an additional 362 shares during the period. Simplicity Solutions LLC’s holdings in Phillips 66 were worth $1,097,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PSX. DekaBank Deutsche Girozentrale lifted its position in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after acquiring an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $10,402,000. Choate Investment Advisors purchased a new position in shares of Phillips 66 during the third quarter valued at approximately $247,000. First Dallas Securities Inc. bought a new stake in Phillips 66 during the third quarter worth $753,000. Finally, TIAA Trust National Association raised its position in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after buying an additional 3,670 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Richard G. Harbison sold 21,934 shares of the 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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. Over the last three months, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $160.82 on Tuesday. The firm has a market capitalization of $68.80 billion, a PE ratio of 10.40, a P/E/G ratio of 2.05 and a beta of 1.37. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $153.64 and a two-hundred day moving average price of $134.51. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Equities analysts forecast that Phillips 66 will post 13.2 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.86%. Phillips 66’s payout ratio is 27.15%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PSX shares. Scotiabank lifted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Piper Sandler increased their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Mizuho reduced their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday. Finally, Citigroup started coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.86.

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.