HB Wealth Management LLC Has $6.94 Million Stock Position in Phillips 66 $PSX

HB Wealth Management LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 10.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,070 shares of the oil and gas company’s stock after acquiring an additional 3,604 shares during the quarter. HB Wealth Management LLC’s holdings in Phillips 66 were worth $6,936,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Board of the Pension Protection Fund acquired a new stake in Phillips 66 in the 4th quarter worth $26,000. Accordant Advisory Group Inc raised its position in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Phillips 66 during the fourth quarter valued at about $27,000. SWAN Capital LLC lifted its stake in shares of Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the period. Finally, Stephens Consulting LLC lifted its stake in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 90 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In related news, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PSX shares. BMO Capital Markets boosted their price target on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Wolfe Research upped their target price on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.72.

Phillips 66 Stock Performance

NYSE:PSX opened at $176.40 on Friday. Phillips 66 has a 12-month low of $118.07 and a 12-month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $70.72 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The firm has a 50-day moving average price of $174.43 and a 200 day moving average price of $161.15.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results 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 firm had revenue of $32.54 billion during 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 company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.90) earnings per share. Research analysts anticipate that Phillips 66 will post 19.27 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

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.