Legacy Financial Advisors Inc. Boosts Holdings in Phillips 66 (NYSE:PSX)

Legacy Financial Advisors Inc. increased its holdings in Phillips 66 (NYSE:PSX) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,488 shares of the oil and gas company’s stock after buying an additional 385 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Phillips 66 were worth $864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Stratos Wealth Partners LTD. increased its holdings in Phillips 66 by 1.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 22,124 shares of the oil and gas company’s stock valued at $2,658,000 after acquiring an additional 318 shares during the last quarter. NorthRock Partners LLC bought a new position in Phillips 66 during the third quarter valued at approximately $278,000. Brown Advisory Inc. grew its holdings in Phillips 66 by 5.5% during the 3rd quarter. Brown Advisory Inc. now owns 56,217 shares of the oil and gas company’s stock valued at $6,755,000 after buying an additional 2,939 shares in the last quarter. Segment Wealth Management LLC increased its stake in Phillips 66 by 16.7% in the 3rd quarter. Segment Wealth Management LLC now owns 4,513 shares of the oil and gas company’s stock worth $542,000 after acquiring an additional 645 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its holdings in shares of Phillips 66 by 1.3% during the 3rd quarter. Miracle Mile Advisors LLC now owns 22,603 shares of the oil and gas company’s stock worth $2,716,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company upped their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Citigroup assumed coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. The Goldman Sachs Group upped their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Mizuho decreased their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Trading Down 0.2 %

NYSE:PSX traded down $0.26 during midday trading on Friday, hitting $143.61. The stock had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a market capitalization of $60.88 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.82 and a beta of 1.41. The stock has a 50-day moving average of $155.55 and a 200 day moving average of $138.03. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period last year, the business posted $4.21 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.20%. Phillips 66’s dividend payout ratio (DPR) is presently 32.31%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.