Benjamin F. Edwards & Company Inc. Has $2.62 Million Holdings in Phillips 66 (NYSE:PSX)

Benjamin F. Edwards & Company Inc. trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,679 shares of the oil and gas company’s stock after selling 238 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Phillips 66 were worth $2,620,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $254,336,000. Bahl & Gaynor Inc. grew its position in Phillips 66 by 41.2% during the third quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock valued at $181,049,000 after buying an additional 439,360 shares during the period. Acadian Asset Management LLC increased its holdings in Phillips 66 by 1,038.3% during the third quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock worth $56,720,000 after buying an additional 430,723 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Phillips 66 by 53.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock worth $145,951,000 after buying an additional 421,714 shares during the last quarter. Finally, Nomura Holdings Inc. increased its holdings in Phillips 66 by 10,239.5% during the third quarter. Nomura Holdings Inc. now owns 399,000 shares of the oil and gas company’s stock worth $47,940,000 after buying an additional 395,141 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PSX. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Bank of America lifted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Piper Sandler lifted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Mizuho reduced their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Price Performance

PSX stock opened at $143.61 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.02. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The stock has a market cap of $60.88 billion, a PE ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41. The firm has a 50 day simple moving average of $155.55 and a two-hundred day simple moving average of $138.03.

Phillips 66 (NYSE:PSX) last released 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). 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 during the quarter, compared to analysts’ expectations of $35.87 billion. During the same period in the prior year, the firm earned $4.21 EPS. On average, analysts predict that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.20%. Phillips 66’s dividend payout ratio is 32.31%.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were purchased 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 $278,502. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.