Phillips 66 (NYSE:PSX) Shares Acquired by OmniStar Financial Group Inc.

OmniStar Financial Group Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 27.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,538 shares of the oil and gas company’s stock after acquiring an additional 1,195 shares during the period. OmniStar Financial Group Inc.’s holdings in Phillips 66 were worth $731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Crewe Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at $25,000. Keener Financial Planning LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $26,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at $26,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at $28,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSX. Bank of America began coverage on shares of Phillips 66 in a research note on Thursday. They issued a “buy” rating and a $156.00 target price for the company. Morgan Stanley cut their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Raymond James boosted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler boosted their price target on shares of Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Wolfe Research started coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.50.

Phillips 66 Stock Performance

Shares of PSX traded down $1.53 during trading hours on Friday, reaching $131.82. 434,518 shares of the company’s stock traded hands, compared to its average volume of 2,680,865. The firm has a market capitalization of $55.18 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 5.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The business’s fifty day simple moving average is $133.23 and its two-hundred day simple moving average is $140.84.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period last year, the company earned $3.87 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts predict that Phillips 66 will post 7.85 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.49%. Phillips 66’s dividend payout ratio (DPR) is 39.45%.

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.