Phillips 66 $PSX Shares Acquired by Focus Partners Wealth

Focus Partners Wealth boosted its stake in Phillips 66 (NYSE:PSX) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,858 shares of the oil and gas company’s stock after acquiring an additional 22,199 shares during the period. Focus Partners Wealth owned 0.11% of Phillips 66 worth $58,197,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PSX. Evolution Wealth Management Inc. acquired a new position in Phillips 66 during the 2nd quarter worth $25,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Phillips 66 during the second quarter worth about $32,000. Winnow Wealth LLC bought a new position in shares of Phillips 66 during the third quarter worth about $36,000. Wealth Watch Advisors INC bought a new stake in Phillips 66 in the third quarter valued at about $36,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Phillips 66 in the second quarter valued at about $38,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $173.56 on Tuesday. The stock has a market cap of $69.55 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.60 and a beta of 0.86. The firm’s 50-day simple moving average is $152.11 and its 200 day simple moving average is $140.46. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $178.38. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (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 analyst estimates 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 prior year, the firm posted ($0.15) EPS. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date was Monday, February 23rd. Phillips 66’s payout ratio is 46.95%.

Analysts Set New Price Targets

A number of research firms have commented on PSX. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Citigroup boosted their price target on Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Scotiabank restated a “sector perform” rating and set a $140.00 price objective on shares of Phillips 66 in a research note on Friday, January 16th. Finally, UBS Group reaffirmed a “buy” rating and issued a $172.00 price objective on shares of Phillips 66 in a report on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $161.33.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares of the company’s stock, valued at approximately $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 84,688 shares of company stock valued at $14,066,145. 0.22% of the stock is currently owned by company insiders.

Phillips 66 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.