Icon Wealth Advisors LLC Invests $2.36 Million in Phillips 66 (NYSE:PSX)

Icon Wealth Advisors LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,707 shares of the oil and gas company's stock, valued at approximately $2,358,000.

Several other large investors have also recently bought and sold shares of the stock. Warwick Investment Management Inc. increased its holdings in shares of Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company's stock worth $319,000 after purchasing an additional 73 shares during the period. HCR Wealth Advisors grew its position in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company's stock worth $351,000 after acquiring an additional 74 shares in the last quarter. Nvwm LLC grew its position in Phillips 66 by 0.9% in the fourth quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company's stock worth $1,103,000 after acquiring an additional 75 shares in the last quarter. Cardinal Capital Management grew its position in Phillips 66 by 0.3% in the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company's stock worth $3,104,000 after acquiring an additional 77 shares in the last quarter. Finally, Richwood Investment Advisors LLC grew its position in Phillips 66 by 1.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 4,490 shares of the oil and gas company's stock worth $598,000 after acquiring an additional 80 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. StockNews.com lowered shares of Phillips 66 from a "buy" rating to a "hold" rating in a research report on Monday, May 6th. Raymond James cut their price target on shares of Phillips 66 from $163.00 to $160.00 and set an "outperform" rating for the company in a research report on Thursday, May 30th. Scotiabank upped their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company upped their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $158.93.

Insider Activity

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now 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 is available at this hyperlink. In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company's stock, valued at $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares of the company's stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,864 shares of company stock worth $7,567,178. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Trading Up 0.1 %

PSX stock traded up $0.19 during mid-day trading on Tuesday, reaching $138.31. The company had a trading volume of 1,692,494 shares, compared to its average volume of 2,747,593. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market capitalization of $58.64 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The firm has a 50 day moving average of $149.52 and a 200 day moving average of $143.65. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the prior year, the business posted $4.21 earnings per share. On average, equities analysts predict that Phillips 66 will post 12.16 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a dividend of $1.15 per share. The ex-dividend date was Friday, May 17th. This is an increase 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 3.33%. Phillips 66's dividend payout ratio (DPR) is currently 35.38%.

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.