Clarity Financial LLC Takes $278,000 Position in Phillips 66 (NYSE:PSX)

Clarity Financial LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,700 shares of the oil and gas company’s stock, valued at approximately $278,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aspiriant LLC acquired a new position in Phillips 66 during the first quarter worth approximately $267,000. Key Client Fiduciary Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $293,000. Sovereign Financial Group Inc. raised its stake in Phillips 66 by 9.1% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,856 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 155 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Phillips 66 during the 1st quarter valued at $82,000. Finally, Brookstone Capital Management increased its holdings in shares of Phillips 66 by 6.7% in the first quarter. Brookstone Capital Management now owns 23,076 shares of the oil and gas company’s stock valued at $3,769,000 after purchasing an additional 1,450 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PSX shares. Scotiabank upped their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. The Goldman Sachs Group upped 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. Raymond James dropped their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Argus reaffirmed a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Finally, TD Cowen dropped their price objective on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $157.79.

Phillips 66 Stock Down 0.0 %

Shares of NYSE:PSX opened at $139.76 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a 52-week low of $91.78 and a 52-week high of $174.08. The company has a market capitalization of $59.25 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. The company has a fifty day moving average of $143.81 and a 200-day moving average of $144.53.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the business posted $4.21 earnings per share. On average, equities analysts predict that Phillips 66 will post 11.22 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a $1.15 dividend. The ex-dividend date was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.29%. Phillips 66’s dividend payout ratio is presently 35.38%.

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.