Choreo LLC Acquires 648 Shares of Phillips 66 (NYSE:PSX)

Choreo LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,836 shares of the oil and gas company’s stock after acquiring an additional 648 shares during the quarter. Choreo LLC’s holdings in Phillips 66 were worth $777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Cardinal Capital Management raised its holdings in Phillips 66 by 0.3% during the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after buying an additional 77 shares during the period. Aaron Wealth Advisors LLC raised its stake in shares of Phillips 66 by 3.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after acquiring an additional 82 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Phillips 66 by 1.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock worth $865,000 after acquiring an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Phillips 66 by 0.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock worth $2,958,000 after acquiring an additional 90 shares during the last quarter. Finally, West Branch Capital LLC boosted its stake in shares of Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 91 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, 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 SEC, which can be accessed through this link. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’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 value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Over the last ninety days, 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 PSX opened at $140.17 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. The company has a 50 day moving average price of $155.67 and a 200-day moving average price of $137.76. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The stock has a market capitalization of $59.43 billion, a PE ratio of 10.78, a PEG ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period last year, the business posted $4.21 EPS. Equities analysts predict that Phillips 66 will post 13.13 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date is Friday, May 17th. 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 yield of 3.28%. Phillips 66’s payout ratio is currently 32.31%.

Analysts Set New Price Targets

PSX has been the subject of several analyst reports. Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Bank of America raised 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. Barclays cut their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Raymond James lifted their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

Phillips 66 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.