SPC Financial Inc. Acquires 102 Shares of Phillips 66 (NYSE:PSX)

SPC Financial Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,094 shares of the oil and gas company’s stock after purchasing an additional 102 shares during the quarter. SPC Financial Inc.’s holdings in Phillips 66 were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at about $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Phillips 66 in the 2nd quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at approximately $28,000. Finally, Ruedi Wealth Management Inc. raised its holdings in Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSX. Raymond James boosted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler increased their price objective on shares of Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Mizuho dropped their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Morgan Stanley dropped their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is owned by insiders.

Phillips 66 Trading Up 0.8 %

NYSE PSX opened at $133.35 on Friday. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market capitalization of $56.53 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 5.48 and a beta of 1.33. The company’s 50-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 data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during 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%. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.87 earnings per share. Equities analysts forecast that Phillips 66 will post 8.19 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio 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.