HighTower Advisors LLC Boosts Position in Phillips 66 (NYSE:PSX)

HighTower Advisors LLC lifted its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 7.0% during the 3rd quarter, Holdings Channel reports. The fund owned 260,975 shares of the oil and gas company’s stock after buying an additional 17,051 shares during the quarter. HighTower Advisors LLC’s holdings in Phillips 66 were worth $31,344,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PSX. First Capital Advisors Group LLC. purchased a new stake in Phillips 66 in the 2nd quarter valued at about $25,000. WFA of San Diego LLC acquired a new position in Phillips 66 in the 2nd quarter valued at about $30,000. Cornerstone Planning Group LLC grew its position in Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 151 shares in the last quarter. Worth Asset Management LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $32,000. Finally, PCA Investment Advisory Services Inc. acquired a new position in Phillips 66 in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 71.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PSX shares. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $146.00 price objective for the company in a research report on Tuesday, October 31st. Tudor, Pickering, Holt & Co. raised Phillips 66 from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $115.00 to $130.00 in a research report on Monday, October 30th. Wells Fargo & Company boosted their price objective on Phillips 66 from $151.00 to $163.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Barclays upped their price target on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $138.21.

View Our Latest Report on Phillips 66

Phillips 66 Price Performance

Shares of NYSE PSX opened at $145.66 on Friday. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $149.52. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $134.19 and a two-hundred day moving average of $121.94. The stock has a market cap of $64.08 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.91 and a beta of 1.38.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Tuesday, February 20th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, February 16th. Phillips 66’s dividend payout ratio is presently 27.15%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 31,700 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $130.21, for a total value of $4,127,657.00. Following the sale, the chief financial officer now owns 103,351 shares of the company’s stock, valued at $13,457,333.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Joseph Scott Pruitt sold 1,000 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $133.23, for a total transaction of $133,230.00. Following the transaction, the vice president now directly owns 6,593 shares in the company, valued at $878,385.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 31,700 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $130.21, for a total value of $4,127,657.00. Following the transaction, the chief financial officer now owns 103,351 shares in the company, valued at $13,457,333.71. The disclosure for this sale can be found here. Insiders have sold 41,653 shares of company stock valued at $5,462,808 over the last quarter. Company insiders own 4.57% of the company’s stock.

Phillips 66 Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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