Phillips 66 (NYSE:PSX) Position Raised by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in Phillips 66 (NYSE:PSX) by 7.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,165 shares of the oil and gas company’s stock after purchasing an additional 354 shares during the period. EverSource Wealth Advisors LLC’s holdings in Phillips 66 were worth $751,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Madison Park Capital Advisors LLC lifted its stake in shares of Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares during the last quarter. Warwick Investment Management Inc. boosted its holdings in Phillips 66 by 3.1% during the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 73 shares during the period. MV Capital Management Inc. boosted its holdings in Phillips 66 by 9.6% during the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 73 shares during the period. Mitchell & Pahl Private Wealth LLC grew its position in shares of Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after purchasing an additional 74 shares during the last quarter. Finally, Catalyst Financial Partners LLC increased its stake in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the period. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred 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 transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of research analyst reports. Mizuho lowered their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Raymond James raised their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wolfe Research started coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Morgan Stanley decreased their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Argus reaffirmed a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a research report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.21.

Phillips 66 Stock Up 0.9 %

NYSE PSX opened at $131.11 on Tuesday. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a market capitalization of $55.58 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 4.67 and a beta of 1.33. The stock’s 50 day moving average is $135.02 and its two-hundred day moving average is $143.52. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the firm earned $3.87 EPS. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. Equities analysts forecast that Phillips 66 will post 9.1 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. Phillips 66’s dividend payout ratio (DPR) is presently 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.