Insigneo Advisory Services LLC Boosts Stake in Phillips 66 (NYSE:PSX)

Insigneo Advisory Services LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 13.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,088 shares of the oil and gas company’s stock after acquiring an additional 363 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Phillips 66 were worth $407,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Crewe Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter worth approximately $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the first quarter worth $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 in the second quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the fourth quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC bought a new position in Phillips 66 during the 1st quarter valued at $28,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s 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 sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Morgan Stanley reduced their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Scotiabank decreased their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Argus reissued a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Finally, Mizuho decreased their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.21.

Phillips 66 Stock Performance

PSX opened at $130.61 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $134.59 and its 200-day moving average is $143.29. The stock has a market cap of $55.37 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 5.26 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (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 analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.87 EPS. On average, analysts predict that Phillips 66 will post 8.31 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.52%. Phillips 66’s dividend payout ratio is presently 35.38%.

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.