Keynote Financial Services LLC Makes New $964,000 Investment in Phillips 66 (NYSE:PSX)

Keynote Financial Services LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,904 shares of the oil and gas company’s stock, valued at approximately $964,000.

A number of other institutional investors also recently modified their holdings of PSX. Crewe Advisors LLC acquired a new position in Phillips 66 in the first quarter valued at $25,000. Keener Financial Planning LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at about $28,000. Finally, First United Bank & Trust acquired a new stake in Phillips 66 during the fourth quarter worth approximately $31,000. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction 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 sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 5.1 %

Phillips 66 stock traded down $7.19 during trading on Friday, hitting $133.76. 4,078,997 shares of the company were exchanged, compared to its average volume of 2,094,396. The company has a market capitalization of $55.99 billion, a P/E ratio of 10.29, a PEG ratio of 2.50 and a beta of 1.34. The business’s 50 day moving average is $138.97 and its 200 day moving average is $145.84. Phillips 66 has a 52 week low of $107.41 and a 52 week high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.82 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.87 EPS. Analysts predict that Phillips 66 will post 9.4 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s payout ratio is 35.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Argus restated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. TD Cowen increased their target price on shares of Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays decreased their price target on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Wolfe Research began coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.23.

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.