Symphony Financial Ltd. Co. Acquires 431 Shares of Phillips 66 (NYSE:PSX)

Symphony Financial Ltd. Co. raised its holdings in Phillips 66 (NYSE:PSX) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,700 shares of the oil and gas company’s stock after purchasing an additional 431 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Phillips 66 were worth $609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its holdings in shares of Phillips 66 by 134.8% in the third 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 during the period. First Capital Advisors Group LLC. bought a new stake in Phillips 66 during the second quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new position in Phillips 66 in the fourth quarter valued at $36,000. Bell Investment Advisors Inc raised its holdings in shares of Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 138 shares in the last quarter. Finally, Worth Asset Management LLC purchased a new position in shares of Phillips 66 during the first quarter worth approximately $32,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSX. StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. TD Cowen boosted their target price on shares of Phillips 66 from $134.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, December 4th. The Goldman Sachs Group lifted their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Mizuho lifted their target price on Phillips 66 from $135.00 to $167.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $163.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $151.08.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction 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 directly owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 40,309 shares of company stock worth $5,981,836. Company insiders own 4.57% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock traded up $4.38 during mid-day trading on Friday, reaching $163.34. 3,177,289 shares of the company’s stock traded hands, compared to its average volume of 3,275,951. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The firm has a market capitalization of $69.88 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $163.79. The firm has a 50 day moving average price of $146.98 and a two-hundred day moving average price of $130.57.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. The company 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%. On average, research analysts forecast that Phillips 66 will post 12.85 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, February 16th. Phillips 66’s dividend payout ratio is 27.15%.

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.