Gladstone Institutional Advisory LLC Purchases 3,809 Shares of Phillips 66 (NYSE:PSX)

Gladstone Institutional Advisory LLC lifted its position in Phillips 66 (NYSE:PSX) by 15.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,194 shares of the oil and gas company’s stock after acquiring an additional 3,809 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Phillips 66 were worth $3,838,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in Phillips 66 in the first quarter worth $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 in the first quarter worth about $26,000. Ruedi Wealth Management Inc. increased its stake in shares of Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Phillips 66 during the third quarter valued at approximately $26,000. Finally, Bank & Trust Co bought a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.15 during midday trading on Friday, hitting $121.67. 618,467 shares of the company’s stock traded hands, compared to its average volume of 2,668,469. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 1.21. The stock has a market capitalization of $50.25 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33. The firm has a fifty day moving average of $131.58 and a 200 day moving average of $138.09. Phillips 66 has a 1 year low of $110.54 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the company posted $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts forecast that Phillips 66 will post 7.75 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Wall Street Analyst Weigh In

PSX has been the subject of several analyst reports. Scotiabank reduced their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Bank of America assumed coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Finally, Wolfe Research started coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.42.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.

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.