Phillips 66 (NYSE:PSX) Holdings Increased by AMJ Financial Wealth Management

AMJ Financial Wealth Management grew its position in shares of Phillips 66 (NYSE:PSX) by 43.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,360 shares of the oil and gas company’s stock after purchasing an additional 16,434 shares during the period. Phillips 66 makes up about 3.0% of AMJ Financial Wealth Management’s investment portfolio, making the stock its 10th largest position. AMJ Financial Wealth Management’s holdings in Phillips 66 were worth $7,237,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PSX. DekaBank Deutsche Girozentrale grew its position in shares of Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after buying an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth approximately $10,402,000. First Dallas Securities Inc. acquired a new stake in shares of Phillips 66 during the third quarter worth approximately $753,000. TIAA Trust National Association grew its position in shares of Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Phillips 66 by 27.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after buying an additional 10,536 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSX. Wells Fargo & Company raised their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Piper Sandler decreased their price objective on shares of Phillips 66 from $187.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Argus reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.93.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value 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 document filed with the SEC, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,864 shares of company stock worth $7,567,178. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $3.72 during midday trading on Friday, reaching $142.11. 3,609,164 shares of the company traded hands, compared to its average volume of 2,792,737. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The stock has a 50-day moving average price of $152.83 and a 200 day moving average price of $142.24. 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 cap of $60.25 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 1.88 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share 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 company 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 firm earned $4.21 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 12.26 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.24%. Phillips 66’s payout ratio is 35.38%.

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.