Miracle Mile Advisors LLC Has $3.29 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Miracle Mile Advisors LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,294 shares of the oil and gas company’s stock after buying an additional 473 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Phillips 66 were worth $3,288,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the first quarter worth $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 during the first quarter worth about $28,000. Ruedi Wealth Management Inc. raised its position in shares of Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 in the fourth quarter worth approximately $27,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of several analyst reports. Argus restated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Mizuho cut their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. TD Cowen increased their price target on Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Piper Sandler dropped their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $157.38.

Phillips 66 Stock Up 0.2 %

NYSE PSX traded up $0.24 on Friday, reaching $138.92. The company had a trading volume of 1,644,456 shares, compared to its average volume of 2,649,109. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $58.90 billion, a P/E ratio of 10.69, a P/E/G ratio of 2.37 and a beta of 1.34. The company’s fifty day moving average is $138.18 and its 200 day moving average is $145.93. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.87 EPS. Sell-side analysts anticipate that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 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.