Resurgent Financial Advisors LLC Has $309,000 Holdings in Phillips 66 (NYSE:PSX)

Resurgent Financial Advisors LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 84.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,891 shares of the oil and gas company’s stock after acquiring an additional 864 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in Phillips 66 were worth $309,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Keener Financial Planning LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at $28,000. Ruedi Wealth Management Inc. raised its holdings in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 96 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 during the 4th quarter worth $27,000. Finally, First United Bank & Trust acquired a new position in Phillips 66 during the 4th quarter worth $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX traded down $2.72 during trading on Tuesday, reaching $137.39. 640,513 shares of the company traded hands, compared to its average volume of 2,679,187. Phillips 66 has a 1-year low of $105.56 and a 1-year high of $174.08. The company has a market cap of $58.25 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 2.30 and a beta of 1.34. The stock’s 50 day moving average price is $139.62 and its two-hundred day moving average price is $145.39. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the firm earned $4.21 EPS. As a group, analysts anticipate that Phillips 66 will post 10.06 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent analyst reports. Raymond James dropped their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Scotiabank reduced their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Piper Sandler reduced their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.23.

Insider Activity at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

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.