Benjamin Edwards Inc. Has $646,000 Stock Position in Phillips 66 (NYSE:PSX)

Benjamin Edwards Inc. boosted its stake in Phillips 66 (NYSE:PSX) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,577 shares of the oil and gas company’s stock after acquiring an additional 220 shares during the period. Benjamin Edwards Inc.’s holdings in Phillips 66 were worth $646,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the last quarter. Wellington Management Group LLP grew its holdings in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after acquiring an additional 1,842,226 shares during the period. Bank of New York Mellon Corp raised its position in shares of Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after acquiring an additional 402,925 shares in the last quarter. Boston Partners lifted its stake in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Phillips 66 by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after purchasing an additional 111,261 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSX. Scotiabank lowered their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Piper Sandler cut their target price on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Finally, Morgan Stanley cut their price objective 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. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.21.

Phillips 66 Stock Performance

Shares of PSX opened at $129.97 on Friday. The firm has a market capitalization of $55.10 billion, a P/E ratio of 10.00, a P/E/G ratio of 4.67 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The stock has a 50 day moving average price of $135.20 and a two-hundred day moving average price of $143.69. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The business 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%. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.87 EPS. 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 disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.54%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insiders Place Their Bets

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 stock was 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 directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

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.