Callan Capital LLC Increases Position in Phillips 66 (NYSE:PSX)

Callan Capital LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,147 shares of the oil and gas company’s stock after buying an additional 132 shares during the period. Callan Capital LLC’s holdings in Phillips 66 were worth $419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSX. DekaBank Deutsche Girozentrale grew its holdings in 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 purchasing an additional 22,278 shares during the period. Eldred Rock Partners LLC bought a new position in Phillips 66 during the fourth quarter valued at $10,402,000. Choate Investment Advisors bought a new position in Phillips 66 during the third quarter valued at $247,000. First Dallas Securities Inc. bought a new position in Phillips 66 during the third quarter valued at $753,000. Finally, TIAA Trust National Association grew its holdings in Phillips 66 by 32.9% during 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 purchasing an additional 3,670 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 over the last three months. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PSX shares. Barclays increased their price objective on Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Piper Sandler increased their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Scotiabank increased their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Mizuho dropped their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Stock Down 3.6 %

PSX traded down $5.72 on Friday, hitting $151.52. The company had a trading volume of 4,206,722 shares, compared to its average volume of 2,976,116. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The stock has a fifty day simple moving average of $155.55 and a 200-day simple moving average of $136.88. The firm has a market capitalization of $64.82 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.91 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.60 by ($0.70). Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same quarter in the previous year, the business earned $4.21 earnings per share. As a group, equities analysts expect that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.04%. Phillips 66’s dividend payout ratio (DPR) is 27.15%.

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.