TCG Advisory Services LLC Boosts Stock Position in Phillips 66 (NYSE:PSX)

TCG Advisory Services LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 1,000.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,958 shares of the oil and gas company’s stock after purchasing an additional 98,147 shares during the quarter. Phillips 66 makes up approximately 1.0% of TCG Advisory Services LLC’s holdings, making the stock its 21st largest holding. TCG Advisory Services LLC’s holdings in Phillips 66 were worth $14,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in shares of Phillips 66 by 3,825.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,727 shares of the oil and gas company’s stock worth $207,000 after acquiring an additional 1,683 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Phillips 66 by 78.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 237,097 shares of the oil and gas company’s stock worth $28,487,000 after acquiring an additional 104,510 shares in the last quarter. Raymond James & Associates grew its position in shares of Phillips 66 by 0.5% in the 3rd quarter. Raymond James & Associates now owns 664,803 shares of the oil and gas company’s stock worth $79,876,000 after acquiring an additional 3,386 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Phillips 66 by 1.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 22,124 shares of the oil and gas company’s stock worth $2,658,000 after acquiring an additional 318 shares in the last quarter. Finally, Independent Advisor Alliance grew its position in shares of Phillips 66 by 72.0% in the 3rd quarter. Independent Advisor Alliance now owns 30,753 shares of the oil and gas company’s stock worth $3,695,000 after acquiring an additional 12,877 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

NYSE PSX traded down $0.26 on Friday, reaching $143.61. 1,806,203 shares of the stock traded hands, compared to its average volume of 2,353,122. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a market cap of $60.88 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41. The firm’s fifty day simple moving average is $155.55 and its 200 day simple moving average is $138.03. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share 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 firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the prior year, the business earned $4.21 EPS. As a group, research analysts predict that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.20%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 32.31%.

Insider Buying and Selling

In other news, 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 completion of the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Pease purchased 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 in the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research reports. Raymond James lifted their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Barclays dropped their target price on 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. JPMorgan Chase & Co. increased their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. The Goldman Sachs Group lifted their price objective 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. Finally, Mizuho decreased their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

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.