NewSquare Capital LLC Has $6.43 Million Holdings in Phillips 66 (NYSE:PSX)

NewSquare Capital LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,907 shares of the oil and gas company’s stock after buying an additional 794 shares during the quarter. NewSquare Capital LLC’s holdings in Phillips 66 were worth $6,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PSX. Cardinal Capital Management increased its stake in shares of 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 worth $3,104,000 after purchasing an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position 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 worth $312,000 after buying an additional 82 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of Phillips 66 by 1.3% during 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 in the last quarter. Stratos Wealth Partners LTD. raised its stake 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 valued at $2,958,000 after acquiring an additional 90 shares in the last quarter. Finally, West Branch Capital LLC lifted its holdings in Phillips 66 by 49.5% in 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 last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PSX. Scotiabank boosted 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. Piper Sandler upped their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Raymond James increased their target price on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Barclays lifted their price target on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Phillips 66 Price Performance

Shares of PSX stock traded up $1.85 during trading hours on Tuesday, hitting $158.90. 1,756,098 shares of the company’s stock were exchanged, compared to its average volume of 2,978,153. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The stock has a market cap of $67.98 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The stock’s 50-day moving average is $154.65 and its 200-day moving average is $135.96.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. As a group, research analysts forecast that Phillips 66 will post 13.45 EPS for the current 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 represents a $4.60 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 27.15%.

Insider Buying and Selling

In other news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 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 sale, 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 can be accessed through this link. In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 in the last quarter. Insiders own 0.22% of the company’s stock.

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.