Philip James Wealth Mangement LLC Takes Position in Phillips 66 (NYSE:PSX)

Philip James Wealth Mangement LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,895 shares of the oil and gas company’s stock, valued at approximately $906,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in shares of Phillips 66 in the second quarter valued at about $17,670,000. M&G Plc bought a new position in Phillips 66 during the second quarter worth about $3,596,000. Van ECK Associates Corp increased its position in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares during the period. Meeder Asset Management Inc. bought a new position in Phillips 66 during the first quarter worth about $1,283,000. Finally, Cetera Investment Advisers increased its position in Phillips 66 by 318.9% during the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after acquiring an additional 108,515 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on PSX. Raymond James raised their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Barclays reduced their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

Phillips 66 Trading Down 1.6 %

NYSE:PSX traded down $2.03 during mid-day trading on Friday, hitting $124.65. 222,645 shares of the company’s stock were exchanged, compared to its average volume of 2,653,693. The company has a 50 day simple moving average of $130.59 and a 200-day simple moving average of $137.00. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a fifty-two week low of $110.54 and a fifty-two week high of $174.08. The firm has a market capitalization of $51.48 billion, a P/E ratio of 16.26, a PEG ratio of 3.94 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results 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 net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the business earned $4.63 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. As a group, research analysts expect that Phillips 66 will post 7.69 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.69%. Phillips 66’s dividend payout ratio is currently 59.05%.

Insider Activity

In other 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 value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by company insiders.

About Phillips 66

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.