Madison Park Capital Advisors LLC Purchases Shares of 2,278 Phillips 66 (NYSE:PSX)

Madison Park Capital Advisors LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,278 shares of the oil and gas company’s stock, valued at approximately $303,000.

A number of other hedge funds have also bought and sold shares of the stock. Cornerstone Planning Group LLC boosted its holdings in shares of Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at $36,000. Bell Investment Advisors Inc boosted its holdings in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the last quarter. West Branch Capital LLC boosted its holdings in shares of 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 valued at $37,000 after acquiring an additional 91 shares during the last quarter. Finally, Headinvest LLC purchased a new stake in shares of Phillips 66 in the 3rd quarter valued at $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 over the last three months. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Barclays increased their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Scotiabank increased their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Citigroup assumed coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, Raymond James increased their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Phillips 66 Price Performance

PSX traded up $1.85 during midday trading on Tuesday, hitting $158.90. 1,756,098 shares of the company traded hands, compared to its average volume of 2,978,153. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $67.98 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.92 and a beta of 1.37. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The business has a 50 day simple moving average of $154.93 and a two-hundred day simple moving average of $136.31.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. On average, equities analysts forecast that Phillips 66 will post 13.45 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.89%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is 27.15%.

Phillips 66 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.