Hazlett Burt & Watson Inc. Acquires 519 Shares of Phillips 66 (NYSE:PSX)

Hazlett Burt & Watson Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 23.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,720 shares of the oil and gas company’s stock after purchasing an additional 519 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Phillips 66 were worth $384,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Crewe Advisors LLC bought a new stake in Phillips 66 during the 1st quarter valued at about $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $27,000. Finally, Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter worth approximately $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $126.89 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a market cap of $53.80 billion, a PE ratio of 9.76, a PEG ratio of 2.31 and a beta of 1.33. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The business’s fifty day simple moving average is $136.63 and its 200-day simple moving average is $144.59.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period last year, the business posted $3.87 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. Analysts expect that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.63%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PSX has been the subject of a number of research analyst reports. Piper Sandler decreased their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Scotiabank cut their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Argus reiterated a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $157.85.

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.