Everpar Advisors LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Everpar Advisors LLC purchased a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,880 shares of the oil and gas company’s stock, valued at approximately $916,000.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PSX shares. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Piper Sandler boosted their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Bank of America boosted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.43.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, 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 at this link. In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Performance

NYSE PSX traded up $1.73 during trading hours on Wednesday, hitting $146.94. 2,915,394 shares of the stock were exchanged, compared to its average volume of 2,940,190. The company has a market cap of $62.30 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The stock has a 50-day moving average of $155.48 and a 200 day moving average of $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.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same period in the prior year, the company earned $4.21 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 13.17 earnings per share for the current 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 given a dividend of $1.15 per share. 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 3.13%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is presently 32.31%.

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.