Phillips 66 (NYSE:PSX) Shares Bought by Biltmore Wealth Management LLC

Biltmore Wealth Management LLC grew its position in Phillips 66 (NYSE:PSX) by 5.1% in the third quarter, HoldingsChannel reports. The fund owned 3,568 shares of the oil and gas company’s stock after acquiring an additional 172 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Phillips 66 were worth $469,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC grew its position in shares of Phillips 66 by 6.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,680 shares of the oil and gas company’s stock valued at $8,079,000 after purchasing an additional 3,694 shares during the period. Cetera Advisor Networks LLC increased its stake in Phillips 66 by 2.4% during the 4th quarter. Cetera Advisor Networks LLC now owns 68,939 shares of the oil and gas company’s stock worth $9,179,000 after buying an additional 1,644 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Phillips 66 by 0.6% during the fourth quarter. Stephens Inc. AR now owns 14,608 shares of the oil and gas company’s stock valued at $1,945,000 after acquiring an additional 87 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Phillips 66 by 1.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,969,578 shares of the oil and gas company’s stock valued at $262,230,000 after acquiring an additional 22,769 shares during the last quarter. Finally, Morningstar Investment Services LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at approximately $351,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 0.2 %

Shares of Phillips 66 stock traded down $0.31 on Friday, reaching $138.62. The company had a trading volume of 2,468,549 shares, compared to its average volume of 2,733,967. 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 firm has a market cap of $58.77 billion, a PE ratio of 10.66, a PEG ratio of 5.28 and a beta of 1.33. The firm’s 50 day moving average price is $133.83 and its two-hundred day moving average price is $142.39. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the previous year, the firm posted $3.87 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts predict that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared 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 was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.32%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insiders Place Their Bets

In related 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Barclays increased their price objective on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Scotiabank lowered their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Piper Sandler cut their price objective on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Wolfe Research assumed coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley reduced their price objective on 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $152.71.

About Phillips 66

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.