Janney Montgomery Scott LLC Raises Holdings in Phillips 66 $PSX

Janney Montgomery Scott LLC boosted its position in Phillips 66 (NYSE:PSX) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,750 shares of the oil and gas company’s stock after acquiring an additional 7,688 shares during the quarter. Janney Montgomery Scott LLC owned 0.06% of Phillips 66 worth $41,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Woodline Partners LP lifted its position in Phillips 66 by 40.7% during the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after buying an additional 10,089 shares in the last quarter. Sei Investments Co. lifted its position in Phillips 66 by 28.3% during the second quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after buying an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Phillips 66 by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock worth $41,359,000 after buying an additional 28,988 shares during the period. Finally, Glenview Trust co grew its stake in Phillips 66 by 2.6% during the second quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after buying an additional 229 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.1%

NYSE PSX opened at $171.84 on Monday. The company’s fifty day simple moving average is $172.94 and its 200-day simple moving average is $160.16. Phillips 66 has a 52 week low of $118.00 and a 52 week high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market cap of $68.90 billion, a P/E ratio of 16.93, a PEG ratio of 0.24 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.90) earnings per share. Equities research analysts predict that Phillips 66 will post 18.22 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of research reports. Argus raised their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Wolfe Research upped their target price on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.33.

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.