Fifth Third Wealth Advisors LLC Buys New Position in Phillips 66 (NYSE:PSX)

Fifth Third Wealth Advisors LLC bought a new stake in Phillips 66 (NYSE:PSX) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,952 shares of the oil and gas company’s stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $27,000. First United Bank & Trust acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $31,000. Signature Resources Capital Management LLC acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $33,000. Bruce G. Allen Investments LLC acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $36,000. Finally, Gladius Capital Management LP acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PSX shares. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Barclays lowered their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. The Goldman Sachs Group boosted 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. Bank of America boosted their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. boosted their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 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, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $157.79.

Phillips 66 Price Performance

Shares of NYSE:PSX traded down $0.38 during trading on Thursday, reaching $139.40. 1,845,117 shares of the company traded hands, compared to its average volume of 2,734,509. The company’s 50 day moving average is $143.46 and its two-hundred day moving average is $144.50. The firm has a market capitalization of $59.10 billion, a PE ratio of 10.71, a PEG ratio of 2.08 and a beta of 1.37. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 52 week low of $91.78 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted $4.21 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 11.22 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was 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 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 SEC, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

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.