McAdam LLC Buys New Position in Phillips 66 $PSX

McAdam LLC bought a new stake in Phillips 66 (NYSE:PSX) during the first quarter, HoldingsChannel.com reports. The fund bought 1,720 shares of the oil and gas company’s stock, valued at approximately $212,000.

Other hedge funds have also recently bought and sold shares of the company. von Borstel & Associates Inc. bought a new position in Phillips 66 in the first quarter valued at approximately $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 1st quarter worth approximately $29,000. Pacific Center for Financial Services bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 in the 1st quarter valued at $29,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $132.49 on Friday. The stock has a market capitalization of $53.54 billion, a PE ratio of 31.85, a P/E/G ratio of 2.05 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The business has a fifty day moving average price of $126.87 and a two-hundred day moving average price of $119.55. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.60.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the previous year, the firm earned $2.31 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s payout ratio is currently 115.38%.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the acquisition, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president directly owned 43,373 shares of the company’s stock, valued at $5,638,490. This trade represents a 9.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 9,850 shares of company stock worth $1,188,910 and sold 18,586 shares worth $2,389,145. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on PSX shares. Morgan Stanley boosted their price target on Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price target for the company from $126.00 to $130.00 in a research note on Wednesday, July 16th. Wells Fargo & Company reduced their price target on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. Evercore ISI started coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, UBS Group boosted their price target on Phillips 66 from $141.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $136.40.

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.