D.A. Davidson & CO. Boosts Stock Position in Phillips 66 (NYSE:PSX)

D.A. Davidson & CO. raised its holdings in Phillips 66 (NYSE:PSX) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,336 shares of the oil and gas company’s stock after buying an additional 3,456 shares during the period. D.A. Davidson & CO.’s holdings in Phillips 66 were worth $10,635,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Telos Capital Management Inc. increased its position in shares of Phillips 66 by 10.2% during the second quarter. Telos Capital Management Inc. now owns 47,446 shares of the oil and gas company’s stock worth $6,698,000 after purchasing an additional 4,402 shares in the last quarter. Drive Wealth Management LLC increased its position in Phillips 66 by 20.2% during the second quarter. Drive Wealth Management LLC now owns 3,945 shares of the oil and gas company’s stock worth $557,000 after buying an additional 662 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its position in Phillips 66 by 3.1% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,692 shares of the oil and gas company’s stock worth $1,086,000 after buying an additional 228 shares during the period. Claro Advisors LLC lifted its stake in Phillips 66 by 11.1% in the second quarter. Claro Advisors LLC now owns 1,931 shares of the oil and gas company’s stock valued at $273,000 after buying an additional 193 shares during the last quarter. Finally, Summit Financial LLC boosted its holdings in shares of Phillips 66 by 23.0% in the second quarter. Summit Financial LLC now owns 25,264 shares of the oil and gas company’s stock valued at $3,567,000 after acquiring an additional 4,720 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Argus restated a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Wolfe Research started coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank decreased their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Barclays lifted their target price on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company cut their price target 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 research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $157.38.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

Phillips 66 stock opened at $140.31 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $137.85 and its 200 day simple moving average is $145.24. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The firm has a market capitalization of $59.48 billion, a PE ratio of 10.79, a P/E/G ratio of 2.53 and a beta of 1.34.

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 company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.87 EPS. On average, equities research analysts predict that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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 issued a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.28%. Phillips 66’s payout ratio is 35.38%.

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.