Pallas Capital Advisors LLC Acquires 1,419 Shares of Phillips 66 (NYSE:PSX)

Pallas Capital Advisors LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 63.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,666 shares of the oil and gas company’s stock after acquiring an additional 1,419 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Phillips 66 were worth $453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Phillips 66 by 65.6% in the first quarter. Farther Finance Advisors LLC now owns 13,558 shares of the oil and gas company’s stock valued at $1,686,000 after purchasing an additional 5,372 shares during the last quarter. CHICAGO TRUST Co NA increased its holdings in shares of Phillips 66 by 47.4% in the first quarter. CHICAGO TRUST Co NA now owns 3,808 shares of the oil and gas company’s stock valued at $470,000 after purchasing an additional 1,225 shares during the last quarter. Portside Wealth Group LLC increased its holdings in shares of Phillips 66 by 7.5% in the first quarter. Portside Wealth Group LLC now owns 1,910 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 133 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its holdings in shares of Phillips 66 by 21.5% in the first quarter. Moss Adams Wealth Advisors LLC now owns 2,365 shares of the oil and gas company’s stock valued at $292,000 after purchasing an additional 419 shares during the last quarter. Finally, Abacus Planning Group Inc. acquired a new position in shares of Phillips 66 in the first quarter valued at about $242,000. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the acquisition, the director now owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSX shares. Mizuho raised their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. TD Cowen raised their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, UBS Group reduced their price target on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.46.

Phillips 66 Trading Up 0.5%

Shares of PSX opened at $121.50 on Friday. The company’s fifty day moving average is $109.24 and its 200 day moving average is $117.65. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The stock has a market capitalization of $49.50 billion, a PE ratio of 24.60, a P/E/G ratio of 4.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the firm earned $1.90 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.95%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66’s dividend payout ratio is presently 109.34%.

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.