Phillips 66 (NYSE:PSX) Shares Acquired by Cardinal Capital Management

Cardinal Capital Management increased its holdings in shares of Phillips 66 (NYSE:PSX) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,127 shares of the oil and gas company’s stock after purchasing an additional 1,815 shares during the quarter. Cardinal Capital Management’s holdings in Phillips 66 were worth $4,104,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the 4th quarter valued at about $27,000. First United Bank & Trust acquired a new position in Phillips 66 during the 4th quarter worth approximately $31,000. Rise Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $40,000. Signature Resources Capital Management LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth $36,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

Shares of PSX traded down $0.38 during mid-day trading on Thursday, hitting $139.40. 1,845,118 shares of the company’s stock were exchanged, compared to its average volume of 2,734,492. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. Phillips 66 has a fifty-two week low of $91.78 and a fifty-two week high of $174.08. The business’s 50 day moving average is $143.46 and its two-hundred day moving average is $144.50. The firm has a market capitalization of $59.10 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.08 and a beta of 1.37.

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

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a $1.15 dividend. 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 3.30%. The ex-dividend date was Friday, May 17th. Phillips 66’s payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Raymond James cut their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Barclays cut 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. Bank of America increased their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. boosted their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, TD Cowen dropped their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.79.

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.