Islay Capital Management LLC Increases Stake in Phillips 66 (NYSE:PSX)

Islay Capital Management LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,722 shares of the oil and gas company’s stock after buying an additional 941 shares during the period. Phillips 66 accounts for about 1.2% of Islay Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Islay Capital Management LLC’s holdings in Phillips 66 were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its stake in Phillips 66 by 12.4% in the 4th 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 during the last quarter. Eldred Rock Partners LLC purchased a new stake in Phillips 66 during the fourth quarter valued at $10,402,000. Choate Investment Advisors purchased a new stake in Phillips 66 during the third quarter valued at $247,000. First Dallas Securities Inc. bought a new position in Phillips 66 during the third quarter valued at $753,000. Finally, TIAA Trust National Association grew its stake in shares of Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Raymond James increased 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. Wells Fargo & Company raised their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Citigroup initiated coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Trading Down 4.6 %

PSX stock traded down $6.91 during trading on Tuesday, hitting $144.63. The company had a trading volume of 1,665,028 shares, compared to its average volume of 2,956,850. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company has a 50 day simple moving average of $155.70 and a 200-day simple moving average of $137.52. The firm has a market capitalization of $61.88 billion, a P/E ratio of 11.35, a PEG ratio of 1.83 and a beta of 1.37. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its 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). Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same period last year, the business posted $4.21 earnings per share. As a group, research analysts forecast that Phillips 66 will post 13.77 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company 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. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.18%. Phillips 66’s payout ratio is 32.31%.

Insiders Place Their Bets

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’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 owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Pease purchased 682 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly 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 sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by company insiders.

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.