Beirne Wealth Consulting Services LLC Purchases New Shares in Phillips 66 (NYSE:PSX)

Beirne Wealth Consulting Services LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,700 shares of the oil and gas company’s stock, valued at approximately $210,000.

Other hedge funds also recently bought and sold shares of the company. Pacific Center for Financial Services bought a new position in shares of Phillips 66 in the fourth quarter worth about $27,000. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 in the first quarter worth about $27,000. Graney & King LLC bought a new position in shares of Phillips 66 in the fourth quarter worth about $28,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 in the first quarter worth about $28,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Phillips 66 in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 2.0%

Shares of NYSE:PSX opened at $131.66 on Friday. The stock has a market cap of $53.64 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.12 and a beta of 1.02. The firm has a fifty day moving average price of $119.47 and a 200 day moving average price of $117.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same quarter last year, the business posted $1.90 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 9,800 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares of the company’s stock, valued at $5,638,490. This represents a 9.20% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PSX shares. Compass Point started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “buy” rating on the stock. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. Finally, UBS Group decreased their price target on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.07.

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.