Cullen Investment Group LTD. Makes New $230,000 Investment in Phillips 66 (NYSE:PSX)

Cullen Investment Group LTD. acquired a new position in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,729 shares of the oil and gas company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSX. First Capital Advisors Group LLC. acquired a new position in shares of Phillips 66 during the second quarter worth about $25,000. Cornerstone Planning Group LLC increased its position in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the last quarter. Worth Asset Management LLC purchased a new stake in shares of Phillips 66 during the first quarter worth about $32,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $36,000. Finally, Bell Investment Advisors Inc increased its position in shares of Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSX. Scotiabank lifted their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company lifted their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. 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 research report on Friday, March 22nd. Barclays lifted their target price on Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Finally, Bank of America boosted their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $156.86.

Phillips 66 Stock Down 1.0 %

NYSE:PSX opened at $160.82 on Tuesday. The firm has a market capitalization of $68.80 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 2.05 and a beta of 1.37. The stock has a 50 day moving average of $153.64 and a 200-day moving average of $134.51. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. Analysts predict that Phillips 66 will post 13.2 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued 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 annualized dividend and a dividend yield of 2.86%. Phillips 66’s dividend payout ratio is 27.15%.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by 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.