Greenleaf Trust Acquires 675 Shares of Phillips 66 (NYSE:PSX)

Greenleaf Trust raised its holdings in shares of Phillips 66 (NYSE:PSX) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,524 shares of the oil and gas company’s stock after purchasing an additional 675 shares during the period. Greenleaf Trust’s holdings in Phillips 66 were worth $1,401,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Capital Advisors Group LLC. bought a new position in shares of Phillips 66 in the 2nd quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its position in shares of Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares in the last quarter. Worth Asset Management LLC bought a new position in shares of Phillips 66 in the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC bought a new position in shares of Phillips 66 in the 4th quarter worth approximately $36,000. Finally, Bell Investment Advisors Inc raised its position in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 in the last ninety days. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PSX. Citigroup began coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. Bank of America upped 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. The Goldman Sachs Group upped their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler upped their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Phillips 66 Stock Performance

Shares of PSX opened at $154.71 on Friday. The business’s fifty day simple moving average is $154.40 and its two-hundred day simple moving average is $135.45. 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 12 month low of $89.74 and a 12 month high of $174.08. The company has a market cap of $66.19 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 1.92 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. Research analysts anticipate that Phillips 66 will post 13.45 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is 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.