Prospera Financial Services Inc Decreases Stock Position in Phillips 66 $PSX

Prospera Financial Services Inc cut its holdings in Phillips 66 (NYSE:PSX) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,787 shares of the oil and gas company’s stock after selling 5,549 shares during the quarter. Prospera Financial Services Inc’s holdings in Phillips 66 were worth $4,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Evolution Wealth Management Inc. bought a new position in Phillips 66 during the second quarter valued at approximately $25,000. Winnow Wealth LLC bought a new position in shares of Phillips 66 in the third quarter worth about $36,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 during the 2nd quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $38,000. Finally, AXS Investments LLC purchased a new stake in Phillips 66 in the 3rd quarter worth approximately $44,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $161.32 on Thursday. The firm has a fifty day simple moving average of $139.65 and a two-hundred day simple moving average of $134.43. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $161.53. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $65.00 billion, a P/E ratio of 14.91, a PEG ratio of 0.56 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. During the same quarter last year, the firm earned ($0.15) EPS. On average, analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a $1.27 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, February 23rd. Phillips 66’s dividend payout ratio is 44.36%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Barclays upped their target price on shares of Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. Jefferies Financial Group raised their price target on Phillips 66 from $137.00 to $149.00 and gave the company a “hold” rating in a report on Monday, January 26th. Finally, Wolfe Research upped their price objective on Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $157.18.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 26,200 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,825,455.84. This trade represents a 31.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the completion of the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. This represents a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,488 shares of company stock valued at $8,474,466 over the last ninety days. 0.22% of the stock is owned by insiders.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.