SlateStone Wealth LLC Invests $209,000 in Phillips 66 (NYSE:PSX)

SlateStone Wealth LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,570 shares of the oil and gas company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC grew its position in shares of Phillips 66 by 4.2% during the third quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after buying an additional 309,239 shares in the last quarter. Morgan Stanley boosted its holdings in Phillips 66 by 2.1% in the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after purchasing an additional 138,646 shares in the last quarter. Northern Trust Corp boosted its holdings in Phillips 66 by 6.2% in the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after purchasing an additional 283,010 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 12.4% in the third quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after purchasing an additional 502,785 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Phillips 66 by 21.9% in the third quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock valued at $233,909,000 after purchasing an additional 350,211 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Phillips 66

In other Phillips 66 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 transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Phillips 66 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 transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James upped their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Bank of America increased their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Finally, The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Phillips 66 Trading Down 0.5 %

NYSE:PSX traded down $0.85 during mid-day trading on Wednesday, reaching $157.99. The company’s stock had a trading volume of 214,309 shares, compared to its average volume of 2,942,438. The company’s fifty day simple moving average is $154.93 and its two-hundred day simple moving average is $136.31. The stock has a market cap of $67.59 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.95 and a beta of 1.37. 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 twelve month low of $89.74 and a twelve month high of $174.08.

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

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 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.