Everhart Financial Group Inc. Acquires 628 Shares of Phillips 66 (NYSE:PSX)

Everhart Financial Group Inc. increased its holdings in Phillips 66 (NYSE:PSX) by 17.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,251 shares of the oil and gas company’s stock after buying an additional 628 shares during the period. Everhart Financial Group Inc.’s holdings in Phillips 66 were worth $525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PSX. Bogart Wealth LLC boosted its holdings in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new stake in Phillips 66 in the 4th quarter worth approximately $25,000. Pacific Center for Financial Services purchased a new stake in Phillips 66 in the 4th quarter worth approximately $27,000. Graney & King LLC purchased a new stake in Phillips 66 in the 4th quarter worth approximately $28,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in Phillips 66 in the 4th quarter worth approximately $29,000. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PSX. Mizuho increased their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Scotiabank lowered their target price on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. UBS Group lowered their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Morgan Stanley lowered their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.46.

Insider Activity at Phillips 66

In other news, Director Robert W. Pease purchased 439 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director now directly owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

PSX stock opened at $122.20 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The firm’s fifty day moving average is $109.84 and its 200 day moving average is $117.57. The firm has a market cap of $49.79 billion, a P/E ratio of 24.74, a P/E/G ratio of 4.84 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The business had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the prior year, the business posted $1.90 EPS. Research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.93%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is currently 109.34%.

Phillips 66 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.