Hengehold Capital Management LLC Makes New $206,000 Investment in Phillips 66 (NYSE:PSX)

Hengehold Capital Management LLC purchased a new position in Phillips 66 (NYSE:PSX) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,263 shares of the oil and gas company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSX. Edge Wealth Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $245,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Phillips 66 by 4.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 122,282 shares of the oil and gas company’s stock valued at $19,974,000 after acquiring an additional 4,748 shares in the last quarter. Cardinal Capital Management boosted its position in shares of Phillips 66 by 7.8% during the 1st quarter. Cardinal Capital Management now owns 25,127 shares of the oil and gas company’s stock valued at $4,104,000 after acquiring an additional 1,815 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of Phillips 66 by 139.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,339 shares of the oil and gas company’s stock valued at $1,852,000 after acquiring an additional 6,595 shares in the last quarter. Finally, Clarity Financial LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $278,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSX. Argus restated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Scotiabank boosted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Barclays reduced their price target on shares of 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. TD Cowen reduced their price target on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Finally, The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.79.

Phillips 66 Trading Down 0.3 %

Shares of PSX traded down $0.38 on Thursday, reaching $139.40. 1,845,117 shares of the company’s stock were exchanged, compared to its average volume of 2,734,509. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $59.10 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. The business has a 50 day moving average price of $143.46 and a two-hundred day moving average price of $144.50. Phillips 66 has a 12 month low of $91.78 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly 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 business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period last year, the firm earned $4.21 earnings per share. Research analysts anticipate that Phillips 66 will post 11.22 earnings per share for the current year.

Phillips 66 Increases Dividend

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

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.