Aviance Capital Partners LLC Purchases New Holdings in Phillips 66 (NYSE:PSX)

Aviance Capital Partners LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,583 shares of the oil and gas company’s stock, valued at approximately $211,000.

A number of other hedge funds also recently modified their holdings of the business. DekaBank Deutsche Girozentrale increased its holdings in shares of Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after purchasing an additional 22,278 shares during the period. Eldred Rock Partners LLC acquired a new stake in shares of Phillips 66 during the 4th quarter valued at about $10,402,000. Choate Investment Advisors acquired a new position in Phillips 66 in the third quarter worth approximately $247,000. First Dallas Securities Inc. acquired a new position in Phillips 66 during the third quarter worth $753,000. Finally, TIAA Trust National Association boosted its stake in shares of Phillips 66 by 32.9% during the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after acquiring an additional 3,670 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

PSX traded up $0.09 during trading on Tuesday, hitting $145.21. The company’s stock had a trading volume of 2,192,000 shares, compared to its average volume of 2,940,431. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The firm’s 50 day moving average price is $155.48 and its two-hundred day moving average price is $138.78. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $61.56 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the company earned $4.21 earnings per share. Sell-side analysts forecast that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.17%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PSX shares. Citigroup initiated coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Mizuho cut their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Barclays cut their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. Finally, Bank of America increased their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

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.