Clearbridge Investments LLC Purchases 11,945 Shares of Phillips 66 (NYSE:PSX)

Clearbridge Investments LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 55.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,625 shares of the oil and gas company’s stock after acquiring an additional 11,945 shares during the period. Clearbridge Investments LLC’s holdings in Phillips 66 were worth $4,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its position in Phillips 66 by 12.4% during the fourth 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 during the last quarter. Eldred Rock Partners LLC bought a new position in Phillips 66 during the fourth quarter valued at $10,402,000. First Dallas Securities Inc. bought a new position in Phillips 66 during the third quarter valued at $753,000. TIAA Trust National Association increased its position in Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after acquiring an additional 3,670 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Phillips 66 by 27.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after purchasing an additional 10,536 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The disclosure for this sale can be found here. Insiders sold 50,864 shares of company stock valued at $7,567,178 in the last three months. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

PSX stock opened at $142.68 on Friday. The firm has a market cap of $60.49 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.94 and a beta of 1.41. The firm has a 50-day simple moving average of $154.57 and a two-hundred day simple moving average of $141.45. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $4.21 earnings per share. On average, equities analysts forecast that Phillips 66 will post 12.26 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $1.15 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSX. 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. Piper Sandler cut their price target on shares of Phillips 66 from $187.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. The Goldman Sachs Group upped their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.21.

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.