569 Shares in Phillips 66 (NYSE:PSX) Bought by ORG Wealth Partners LLC

ORG Wealth Partners LLC bought a new stake in Phillips 66 (NYSE:PSX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 569 shares of the oil and gas company’s stock, valued at approximately $75,000.

Several other institutional investors also recently made changes to their positions in the stock. Procyon Advisors LLC lifted its position in shares of Phillips 66 by 2.6% during the 3rd quarter. Procyon Advisors LLC now owns 16,638 shares of the oil and gas company’s stock valued at $2,187,000 after acquiring an additional 425 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Phillips 66 by 13.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,789 shares of the oil and gas company’s stock valued at $2,338,000 after purchasing an additional 2,122 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in Phillips 66 by 1,075.7% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 15,684 shares of the oil and gas company’s stock worth $2,062,000 after purchasing an additional 14,350 shares during the last quarter. Armstrong Advisory Group Inc. raised its holdings in Phillips 66 by 10.4% during the third quarter. Armstrong Advisory Group Inc. now owns 1,303 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 123 shares during the last quarter. Finally, Viking Fund Management LLC boosted its position in Phillips 66 by 59.1% during the third quarter. Viking Fund Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $4,601,000 after purchasing an additional 13,000 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSX has been the subject of a number of research analyst reports. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Raymond James lifted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. TD Cowen lowered their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Wolfe Research began coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $151.21.

Phillips 66 Stock Down 3.0 %

PSX opened at $131.40 on Wednesday. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The business has a 50-day moving average of $133.29 and a two-hundred day moving average of $140.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market capitalization of $55.71 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.87 earnings per share. On average, research analysts expect that Phillips 66 will post 8.19 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. Phillips 66’s payout ratio is 35.38%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

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.