Probity Advisors Inc. Has $739,000 Stock Position in Phillips 66 $PSX

Probity Advisors Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 16.4% during the second quarter, Holdings Channel.com reports. The firm owned 6,194 shares of the oil and gas company’s stock after acquiring an additional 874 shares during the quarter. Probity Advisors Inc.’s holdings in Phillips 66 were worth $739,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its holdings in Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the period. von Borstel & Associates Inc. acquired a new position in Phillips 66 during the 1st quarter worth about $27,000. Olde Wealth Management LLC acquired a new position in Phillips 66 during the 1st quarter worth about $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Phillips 66 during the 1st quarter worth about $29,000. Finally, Pinpoint Asset Management Ltd acquired a new position in Phillips 66 during the 1st quarter worth about $29,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $130.42 on Tuesday. The firm’s 50-day moving average price is $130.67 and its 200-day moving average price is $121.11. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The firm has a market capitalization of $52.71 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.79 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

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. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. Equities research analysts anticipate 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 will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio is currently 115.38%.

Insider Activity at Phillips 66

In related news, Director Sigmund L. Cornelius acquired 500 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. Heim acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were bought at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the acquisition, the director directly owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock worth $1,188,910 over the last three months. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PSX has been the topic of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $150.00 target price (up from $145.00) on shares of Phillips 66 in a report on Friday. Jefferies Financial Group boosted their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the company from $144.00 to $147.00 in a report on Wednesday, September 3rd. Morgan Stanley boosted their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Finally, Barclays boosted their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

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.