Stratos Wealth Partners LTD. lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,808 shares of the oil and gas company’s stock after selling 544 shares during the period. Stratos Wealth Partners LTD.’s holdings in Phillips 66 were worth $1,424,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Total Clarity Wealth Management Inc. bought a new stake in Phillips 66 during the 4th quarter valued at $28,000. Efficient Wealth Management LLC acquired a new position in shares of Phillips 66 during the 1st quarter valued at $28,000. Prestige Wealth Management Group LLC increased its position in shares of Phillips 66 by 179.5% during the 1st quarter. Prestige Wealth Management Group LLC now owns 559 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 359 shares during the period. Harwood Advisory Group LLC acquired a new position in shares of Phillips 66 during the 1st quarter valued at $36,000. Finally, Altshuler Shaham Ltd increased its position in shares of Phillips 66 by 825.0% during the 1st quarter. Altshuler Shaham Ltd now owns 703 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 627 shares during the period. 66.79% of the stock is currently owned by hedge funds and other institutional investors.
PSX has been the topic of several research analyst reports. Credit Suisse Group lifted their price target on Phillips 66 from $72.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Monday, April 20th. Mizuho lowered their price target on Phillips 66 from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Piper Sandler lowered their price target on Phillips 66 from $91.00 to $87.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. Finally, Wolfe Research cut Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price target on the stock. in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $83.47.
In other Phillips 66 news, Director John E. Lowe bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was acquired at an average price of $70.16 per share, with a total value of $70,160.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Kramer Adams bought 1,250 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was acquired at an average cost of $76.40 per share, with a total value of $95,500.00. Following the transaction, the director now owns 10,213 shares of the company’s stock, valued at $780,273.20. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,750 shares of company stock valued at $268,305. 0.63% of the stock is currently owned by insiders.
Shares of Phillips 66 stock opened at $62.02 on Friday. The stock has a market cap of $27.55 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 6.53 and a beta of 1.60. The business has a fifty day simple moving average of $67.98 and a 200-day simple moving average of $73.22. The company has a quick ratio of 0.61, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Phillips 66 has a 12 month low of $40.04 and a 12 month high of $119.92.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 31st. The oil and gas company reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.55). Phillips 66 had a return on equity of 14.90% and a net margin of 0.35%. During the same period last year, the firm posted $3.02 earnings per share. Analysts expect that Phillips 66 will post 1.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $0.90 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.60 annualized dividend and a dividend yield of 5.80%. Phillips 66’s dividend payout ratio (DPR) is presently 44.72%.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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