Commonwealth Equity Services LLC Buys 4,065 Shares of Phillips 66 (NYSE:PSX)

Commonwealth Equity Services LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 301,939 shares of the oil and gas company’s stock after buying an additional 4,065 shares during the quarter. Commonwealth Equity Services LLC owned about 0.07% of Phillips 66 worth $42,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in Phillips 66 during the first quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 during the 1st quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new position in Phillips 66 during the 1st quarter worth $28,000. Ruedi Wealth Management Inc. increased its position in Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Phillips 66 in the fourth quarter valued at about $27,000. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. TD Cowen boosted their target price on shares of Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Raymond James raised their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Argus reissued a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Finally, Wells Fargo & Company reduced their target price on Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $157.38.

Phillips 66 Stock Up 2.8 %

Phillips 66 stock opened at $140.31 on Friday. 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 $58.73 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 2.53 and a beta of 1.34. The business has a 50 day simple moving average of $137.85 and a 200-day simple moving average of $145.24. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.87 EPS. On average, analysts anticipate that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

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.