Soltis Investment Advisors LLC Increases Stake in Phillips 66 $PSX

Soltis Investment Advisors LLC lifted its stake in Phillips 66 (NYSE:PSX) by 108.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,662 shares of the oil and gas company’s stock after purchasing an additional 2,945 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Phillips 66 were worth $731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 in the 4th quarter valued at approximately $26,000. Accordant Advisory Group Inc raised its position in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at approximately $27,000. Stephens Consulting LLC increased its holdings in Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after buying an additional 90 shares during the period. Finally, Dorato Capital Management acquired a new position in Phillips 66 in the 4th quarter worth approximately $35,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 News Summary

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66 announced the Zeus Gas Plant and a third Coastal Bend Fractionator, a meaningful capacity expansion that could support future growth in gas processing and fractionation volumes. Reuters: Phillips 66 to expand gas processing in Permian Basin and Gulf Coast
• Positive Sentiment: The new projects deepen Phillips 66’s Permian-to-Gulf Coast integration and could strengthen margins by capturing more value across the midstream chain. Yahoo Finance: Phillips 66 announces Zeus Gas Plant and a third Coastal Bend Fractionator
• Positive Sentiment: Brokerage and earnings commentary has also been constructive, with Scotiabank reportedly lifting earnings estimates and recent coverage highlighting Phillips 66’s Q1 earnings beat. American Banking News: Scotiabank Brokers Lift Earnings Estimates for Phillips 66
• Neutral Sentiment: Some articles focused on PSX’s recent 1-week momentum and valuation following its Q1 beat and board changes, which may be helping keep the stock on traders’ radar. Zacks: Phillips 66 Is Up 2.70% in One Week
• Neutral Sentiment: Broader energy-sector weakness earlier in the day may have offset some of the stock-specific optimism. Yahoo Finance: Sector Update Energy Stocks Lean Lower Pre-Bell Monday

Insider Activity

In related news, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction on Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at $10,442,200.35. This represents a 41.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 114,029 shares of company stock worth $19,641,455 over the last 90 days. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. TD Cowen increased their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Raymond James Financial increased their price target on shares of Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. Piper Sandler increased their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. Wall Street Zen downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $186.28.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $179.85 on Tuesday. The stock has a market capitalization of $72.11 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.26 and a beta of 0.70. Phillips 66 has a 12 month low of $109.75 and a 12 month high of $190.61. The firm’s 50 day simple moving average is $171.05 and its 200-day simple moving average is $152.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.90) EPS. Analysts expect that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.8%. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

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.