Consolidated Planning Corp Boosts Holdings in Phillips 66 (NYSE:PSX)

Consolidated Planning Corp raised its position in Phillips 66 (NYSE:PSX) by 93.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,626 shares of the oil and gas company’s stock after acquiring an additional 2,720 shares during the quarter. Consolidated Planning Corp’s holdings in Phillips 66 were worth $740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norden Group LLC raised its position in shares of Phillips 66 by 73.2% in the 1st quarter. Norden Group LLC now owns 3,743 shares of the oil and gas company’s stock valued at $611,000 after purchasing an additional 1,582 shares during the last quarter. AIA Group Ltd acquired a new position in Phillips 66 in the 1st quarter worth approximately $1,339,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Phillips 66 by 26.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,806 shares of the oil and gas company’s stock worth $622,000 after buying an additional 794 shares during the last quarter. PFG Advisors lifted its stake in Phillips 66 by 4.9% during the 1st quarter. PFG Advisors now owns 3,778 shares of the oil and gas company’s stock valued at $617,000 after acquiring an additional 177 shares during the period. Finally, Lipe & Dalton purchased a new stake in shares of Phillips 66 in the 1st quarter valued at $87,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Wolfe Research initiated coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Finally, Barclays lowered their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $150.38.

Insider Activity at Phillips 66

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

Phillips 66 Stock Down 1.0 %

Shares of NYSE PSX opened at $126.68 on Friday. The firm has a market cap of $52.32 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33. The company’s 50-day simple moving average is $130.59 and its 200-day simple moving average is $137.00. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52-week low of $110.54 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the firm posted $4.63 EPS. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. Equities analysts predict that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Phillips 66 Company 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.