15,699 Shares in Phillips 66 $PSX Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new position in Phillips 66 (NYSE:PSX) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 15,699 shares of the oil and gas company’s stock, valued at approximately $2,654,000.

Other large investors have also recently bought and sold shares of the company. NFSG Corp increased its holdings in shares of Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC bought a new stake in Phillips 66 during the first quarter valued at $27,000. SWAN Capital LLC boosted its stake in Phillips 66 by 1,055.6% during 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. Kelleher Financial Advisors purchased a new position in Phillips 66 during the second quarter worth about $29,000. Finally, J.Safra Asset Management Corp purchased a new position in Phillips 66 during the second quarter worth about $30,000. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other news, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the completion of the sale, the executive vice president owned 61,595 shares of the company’s stock, valued at approximately $13,242,925. This represents a 32.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard G. Harbison sold 52,100 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the transaction, the executive vice president directly owned 39,094 shares in the company, valued at approximately $8,747,673.44. This represents a 57.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 100,507 shares of company stock valued at $21,770,810 over the last ninety days. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley raised their price target on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 26th. Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, Argus boosted their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $206.56.

Phillips 66 Price Performance

PSX opened at $243.34 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $97.10 billion, a P/E ratio of 13.87, a PEG ratio of 0.18 and a beta of 0.68. The stock has a 50-day moving average price of $198.87 and a 200-day moving average price of $179.70. Phillips 66 has a 12-month low of $124.88 and a 12-month high of $246.95.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same period last year, the firm posted $2.38 EPS. Equities analysts predict that Phillips 66 will post 23.86 earnings per share for the current fiscal year.

Phillips 66 announced that its board has initiated a stock repurchase plan on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 28.95%.

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.