Visionary Wealth Advisors Acquires Shares of 69,764 Phillips 66 $PSX

Visionary Wealth Advisors acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 69,764 shares of the oil and gas company’s stock, valued at approximately $11,794,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NFSG Corp lifted its position in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Axiom Investment Management LLC acquired a new position in Phillips 66 during the 1st quarter valued at about $27,000. SWAN Capital LLC increased its holdings in Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Compass Financial Management LLC bought a new stake in Phillips 66 during the 2nd quarter worth approximately $28,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Phillips 66 in the second quarter worth approximately $29,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

PSX stock opened at $241.88 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The firm has a market cap of $96.51 billion, a PE ratio of 13.78, a P/E/G ratio of 0.18 and a beta of 0.68. The business has a 50 day moving average of $200.25 and a 200-day moving average of $180.36. Phillips 66 has a 12-month low of $126.74 and a 12-month high of $246.95.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. During the same period last year, the company posted $2.38 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 23.86 earnings per share for the current year.

Phillips 66 announced that its Board of Directors has initiated a stock buyback program on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Phillips 66 Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Brian Mandell sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the sale, the executive vice president owned 61,595 shares in the company, valued at approximately $13,242,925. This trade represents a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard G. Harbison sold 52,100 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the sale, the executive vice president owned 39,094 shares of the company’s stock, valued at $8,747,673.44. This trade represents a 57.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSX. The Goldman Sachs Group raised their target price on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 26th. BMO Capital Markets raised their price objective on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Finally, Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.56.

About Phillips 66

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.