3,395 Shares in Phillips 66 $PSX Purchased by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners purchased a new stake in Phillips 66 (NYSE:PSX) during the third quarter, HoldingsChannel.com reports. The firm purchased 3,395 shares of the oil and gas company’s stock, valued at approximately $462,000.

Several other large investors have also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new stake in shares of Phillips 66 during the second quarter worth approximately $25,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Phillips 66 in the 2nd quarter worth approximately $32,000. Winnow Wealth LLC bought a new stake in Phillips 66 during the 3rd quarter worth approximately $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at $38,000. Finally, Operose Advisors LLC increased its holdings in Phillips 66 by 260.4% during the 2nd quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 250 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Phillips 66 stock opened at $169.41 on Thursday. The company has a market cap of $67.89 billion, a PE ratio of 15.66, a PEG ratio of 0.56 and a beta of 0.86. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $169.62. The company’s 50-day moving average is $149.69 and its two-hundred day moving average is $139.51.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter in the previous year, the company earned ($0.15) EPS. Equities analysts anticipate 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 Wednesday, March 4th. Shareholders of record on Monday, February 23rd were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is presently 46.95%.

Analyst Upgrades and Downgrades

PSX has been the topic of several research analyst reports. UBS Group restated a “buy” rating and set a $172.00 target price on shares of Phillips 66 in a report on Friday, February 6th. Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Friday, February 6th. Finally, Piper Sandler boosted their price objective on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $160.11.

Insider Buying and Selling at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. This represents a 14.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total value of $2,835,516.32. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,380,590.72. This represents a 14.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 38,088 shares of company stock worth $6,147,655. Insiders own 0.22% of the company’s stock.

Phillips 66 Company Profile

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.