Tyche Wealth Partners LLC Purchases New Position in Phillips 66 (NYSE:PSX)

Tyche Wealth Partners LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,720 shares of the oil and gas company’s stock, valued at approximately $2,093,000.

Other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew its stake in shares of Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after acquiring an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $10,402,000. Choate Investment Advisors acquired a new stake in shares of Phillips 66 during the third quarter valued at about $247,000. First Dallas Securities Inc. acquired a new stake in shares of Phillips 66 during the third quarter valued at about $753,000. Finally, TIAA Trust National Association increased its holdings in Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after buying an additional 3,670 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 1.9 %

NYSE:PSX traded down $3.02 during trading hours on Tuesday, hitting $157.80. 1,863,804 shares of the stock traded hands, compared to its average volume of 3,039,164. The firm has a 50 day moving average price of $153.64 and a 200 day moving average price of $134.51. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The firm has a market cap of $67.51 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.05 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The business had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Equities research analysts anticipate that Phillips 66 will post 13.2 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is currently 27.15%.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were 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 in the company, valued at $1,035,242.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PSX shares. Scotiabank lifted their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Barclays boosted their price objective on Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Piper Sandler boosted their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Citigroup initiated coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group boosted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.86.

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.