Wealth Enhancement Advisory Services LLC Grows Stake in Phillips 66 (NYSE:PSX)

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Wealth Enhancement Advisory Services LLC grew its holdings in Phillips 66 (NYSE:PSX) by 171.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 29,240 shares of the oil and gas company’s stock after buying an additional 18,465 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Phillips 66 were worth $3,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. raised its position in shares of Phillips 66 by 2.5% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,186 shares of the oil and gas company’s stock worth $400,000 after acquiring an additional 104 shares in the last quarter. Montecito Bank & Trust raised its position in shares of Phillips 66 by 4.1% in the 2nd quarter. Montecito Bank & Trust now owns 2,679 shares of the oil and gas company’s stock worth $250,000 after acquiring an additional 105 shares in the last quarter. AGF Investments LLC raised its position in shares of Phillips 66 by 30.5% in the 2nd quarter. AGF Investments LLC now owns 458 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 107 shares in the last quarter. First National Bank of Hutchinson raised its position in shares of Phillips 66 by 2.8% in the 2nd quarter. First National Bank of Hutchinson now owns 4,128 shares of the oil and gas company’s stock worth $424,000 after acquiring an additional 112 shares in the last quarter. Finally, Glassman Wealth Services raised its position in shares of Phillips 66 by 32.6% in the 1st quarter. Glassman Wealth Services now owns 472 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 71.31% of the company’s stock.

PSX stock traded down $0.46 on Thursday, reaching $97.07. 172,372 shares of the company traded hands, compared to its average volume of 2,414,667. Phillips 66 has a one year low of $78.44 and a one year high of $121.54. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. The company has a market cap of $44.10 billion, a P/E ratio of 8.29, a P/E/G ratio of 1.94 and a beta of 1.10. The firm’s fifty day simple moving average is $99.13.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The company had revenue of $28.52 billion during the quarter, compared to analyst estimates of $29.89 billion. During the same quarter last year, the company earned $2.80 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 7.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.60 annualized dividend and a yield of 3.71%. Phillips 66’s dividend payout ratio is 30.74%.

In other Phillips 66 news, Director John E. Lowe bought 2,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $82.91 per share, for a total transaction of $165,820.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

PSX has been the subject of several research reports. Cowen increased their target price on Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Bank of America raised Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price for the company in a research report on Monday, April 29th. They noted that the move was a valuation call. Morgan Stanley reduced their price objective on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a research report on Friday, May 17th. Raymond James raised their price objective on Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, ValuEngine lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $117.64.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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