Wealth Enhancement Advisory Services LLC Sells 8,408 Shares of Phillips 66 (NYSE:PSX)

Wealth Enhancement Advisory Services LLC cut its holdings in Phillips 66 (NYSE:PSX) by 6.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 113,874 shares of the oil and gas company’s stock after selling 8,408 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Phillips 66 were worth $16,076,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $25,000. Keener Financial Planning LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $28,000. Finally, First United Bank & Trust acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $31,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 1.6 %

Shares of NYSE:PSX traded up $2.18 during midday trading on Wednesday, hitting $136.84. 500,555 shares of the company’s stock were exchanged, compared to its average volume of 2,649,377. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. 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 50 day moving average price of $138.15 and a 200-day moving average price of $146.04. The company has a market cap of $57.28 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 2.37 and a beta of 1.34.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the prior year, the firm posted $3.87 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Phillips 66 will post 9.53 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s payout ratio is currently 35.38%.

Analyst Ratings Changes

Several analysts have commented on PSX shares. Barclays upped their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Argus reaffirmed a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. TD Cowen lifted their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Mizuho decreased their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.38.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Company 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.