Phillips 66 (NYSE:PSX) Stake Boosted by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. grew its position in Phillips 66 (NYSE:PSX) by 64.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,872 shares of the oil and gas company’s stock after buying an additional 11,346 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Phillips 66 were worth $4,076,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PSX. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 during the 1st quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 in the second quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 in the fourth quarter worth $27,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the first quarter valued at $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 1.9 %

Shares of PSX stock opened at $129.97 on Friday. The stock’s 50 day simple moving average is $135.20 and its 200 day simple moving average is $143.67. Phillips 66 has a twelve month low of $107.85 and a twelve month 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 $55.10 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 4.67 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the previous year, the company earned $3.87 earnings per share. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts predict that Phillips 66 will post 9.1 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction 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 approximately $11,390,062.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Scotiabank decreased their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.21.

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.