AE Wealth Management LLC Buys 12,642 Shares of Phillips 66 (NYSE:PSX)

AE Wealth Management LLC raised its stake in Phillips 66 (NYSE:PSX) by 147.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 21,218 shares of the oil and gas company’s stock after acquiring an additional 12,642 shares during the period. AE Wealth Management LLC’s holdings in Phillips 66 were worth $2,995,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares during the period. Wellington Management Group LLP lifted its position in shares of Phillips 66 by 20.3% in 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 purchasing an additional 1,842,226 shares during the period. Bank of New York Mellon Corp boosted its stake 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 valued at $1,189,035,000 after purchasing an additional 402,925 shares during the last quarter. Boston Partners increased its position in shares of Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after buying an additional 111,261 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of recent analyst reports. Scotiabank decreased their price target 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. Morgan Stanley decreased their target price 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. Argus restated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Mizuho reduced their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.21.

Phillips 66 Trading Down 1.9 %

PSX opened at $129.97 on Monday. The firm has a market capitalization of $55.10 billion, a PE ratio of 10.00, a P/E/G ratio of 4.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company’s 50-day moving average is $135.20 and its 200 day moving average is $143.65.

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

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.54%. The ex-dividend date was Tuesday, August 20th. 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.