ZWJ Investment Counsel Inc. Buys 16,573 Shares of Phillips 66 $PSX

ZWJ Investment Counsel Inc. grew its stake in Phillips 66 (NYSE:PSX) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 285,629 shares of the oil and gas company’s stock after purchasing an additional 16,573 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Phillips 66 were worth $34,076,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Elliott Investment Management L.P. lifted its stake in shares of Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after acquiring an additional 682,459 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after acquiring an additional 653,248 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Phillips 66 by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock worth $466,886,000 after acquiring an additional 377,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Phillips 66 by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock worth $383,197,000 after acquiring an additional 100,321 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Sigmund L. Cornelius purchased 500 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were acquired at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director owned 21,543 shares of the company’s stock, valued at $2,661,637.65. The trade was a 2.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 9,850 shares of company stock valued at $1,188,910 and have sold 13,179 shares valued at $1,779,165. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PSX shares. UBS Group raised their price target on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Raymond James Financial raised their price target on Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Compass Point started coverage on Phillips 66 in a research note on Wednesday, June 18th. They set a “buy” rating for the company. Wells Fargo & Company decreased 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. Finally, Jefferies Financial Group raised their price target on Phillips 66 from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $140.19.

Phillips 66 Trading Down 1.3%

PSX opened at $133.14 on Friday. The stock’s fifty day moving average is $128.89 and its two-hundred day moving average is $120.49. The company has a market capitalization of $53.80 billion, a P/E ratio of 32.00, a PEG ratio of 1.95 and a beta of 1.11. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $2.31 EPS. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

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

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.