Vicus Capital Invests $263,000 in Phillips 66 (NYSE:PSX)

Vicus Capital purchased a new position in Phillips 66 (NYSE:PSX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,611 shares of the oil and gas company’s stock, valued at approximately $263,000.

A number of other hedge funds have also made changes to their positions in the stock. Investment Research & Advisory Group Inc. purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $82,000. Grimes & Company Inc. raised its position in Phillips 66 by 242.3% during the first quarter. Grimes & Company Inc. now owns 6,443 shares of the oil and gas company’s stock valued at $1,052,000 after acquiring an additional 4,561 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Phillips 66 by 48.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,758 shares of the oil and gas company’s stock valued at $1,757,000 after acquiring an additional 3,524 shares in the last quarter. Occidental Asset Management LLC bought a new position in Phillips 66 during the first quarter valued at approximately $204,000. Finally, Pinnacle Bancorp Inc. raised its position in Phillips 66 by 7.5% during the first quarter. Pinnacle Bancorp Inc. now owns 2,565 shares of the oil and gas company’s stock valued at $419,000 after acquiring an additional 180 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 1.3 %

Shares of Phillips 66 stock opened at $141.17 on Friday. Phillips 66 has a 1 year low of $93.40 and a 1 year high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $142.91 and its 200-day simple moving average is $144.70. The company has a market cap of $59.85 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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 business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the prior year, the firm earned $4.21 EPS. As a group, sell-side analysts expect that Phillips 66 will post 11.08 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.26%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PSX has been the topic of several recent research reports. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Mizuho cut their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Bank of America increased their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Piper Sandler lowered their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. increased their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $157.79.

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.