Soltis Investment Advisors LLC Buys Shares of 2,418 Phillips 66 (NYSE:PSX)

Soltis Investment Advisors LLC acquired a new position in shares of Phillips 66 (NYSE:PSX – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,418 shares of the oil and gas company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth about $6,959,000. CWM LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth about $1,129,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Phillips 66 by 31.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 82,227 shares of the oil and gas company’s stock worth $5,959,000 after buying an additional 19,596 shares during the period. Xponance Inc. boosted its holdings in shares of Phillips 66 by 27.3% during the 4th quarter. Xponance Inc. now owns 28,161 shares of the oil and gas company’s stock worth $2,041,000 after buying an additional 6,031 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Phillips 66 by 61.0% during the 4th quarter. Qube Research & Technologies Ltd now owns 430,283 shares of the oil and gas company’s stock worth $31,178,000 after buying an additional 162,947 shares during the period. Institutional investors own 64.28% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $82.65 on Friday. The company has a 50 day simple moving average of $90.81 and a 200 day simple moving average of $87.96. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of 0.49 and a beta of 1.41. Phillips 66 has a 1 year low of $63.19 and a 1 year high of $111.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 0.87.

Phillips 66 (NYSE:PSX – Get Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.92 by $0.85. The business had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $40.93 billion. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The firm’s quarterly revenue was up 76.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Research analysts anticipate that Phillips 66 will post 15.55 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Wednesday, August 17th. Phillips 66’s payout ratio is 33.42%.

Insiders Place Their Bets

In other Phillips 66 news, CEO Greg C. Garland sold 146,700 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $109.70, for a total transaction of $16,092,990.00. Following the sale, the chief executive officer now directly owns 656,563 shares of the company’s stock, valued at approximately $72,024,961.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Phillips 66 news, CEO Greg C. Garland sold 146,700 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $109.70, for a total transaction of $16,092,990.00. Following the sale, the chief executive officer now directly owns 656,563 shares of the company’s stock, valued at approximately $72,024,961.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paula Ann Johnson sold 44,700 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $108.91, for a total transaction of $4,868,277.00. Following the completion of the sale, the vice president now directly owns 102,489 shares in the company, valued at $11,162,076.99. The disclosure for this sale can be found here. Insiders have sold 297,700 shares of company stock valued at $32,327,782 in the last ninety days. 0.74% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a report on Tuesday, June 14th. BMO Capital Markets initiated coverage on shares of Phillips 66 in a report on Monday, June 13th. They issued an “outperform” rating and a $132.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Phillips 66 from $102.00 to $112.00 in a report on Tuesday, May 17th. Credit Suisse Group boosted their price objective on shares of Phillips 66 to $122.00 in a report on Thursday, June 9th. Finally, Piper Sandler boosted their price objective on shares of Phillips 66 from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, May 23rd. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.29.

Phillips 66 Profile

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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 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.