Paragon Associates & Paragon Associates II Joint Venture Takes Position in Phillips 66 (NYSE:PSX)

Paragon Associates & Paragon Associates II Joint Venture acquired a new position in Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,000 shares of the oil and gas company's stock, valued at approximately $2,663,000. Phillips 66 accounts for approximately 6.1% of Paragon Associates & Paragon Associates II Joint Venture's portfolio, making the stock its 7th largest holding.

Other hedge funds have also bought and sold shares of the company. First United Bank & Trust purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $31,000. Signature Resources Capital Management LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $33,000. Bruce G. Allen Investments LLC bought a new position in Phillips 66 during the fourth quarter valued at approximately $36,000. Gladius Capital Management LP bought a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $36,000. Finally, West Branch Capital LLC lifted its stake in shares of Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

NYSE:PSX traded down $0.91 during trading hours on Friday, hitting $136.76. 2,107,760 shares of the stock were exchanged, compared to its average volume of 2,033,896. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The firm's fifty day moving average price is $147.44 and its 200 day moving average price is $143.86. 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 has a market cap of $57.98 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.89 and a beta of 1.37.

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

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a dividend of $1.15 per share. This is a boost from Phillips 66's previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Friday, May 17th. Phillips 66's payout ratio is currently 35.38%.

Insider Transactions at Phillips 66

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

Wall Street Analyst Weigh In

PSX has been the subject of several analyst reports. The Goldman Sachs Group raised their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Piper Sandler reduced 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. Raymond James reduced their price objective on Phillips 66 from $163.00 to $160.00 and set an "outperform" rating on the stock in a report on Thursday, May 30th. Barclays reduced their price objective on Phillips 66 from $155.00 to $147.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.57.

Phillips 66 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.