Catalyst Financial Partners LLC Purchases Shares of 1,697 Phillips 66 (NYSE:PSX)

Catalyst Financial Partners LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,697 shares of the oil and gas company’s stock, valued at approximately $210,000.

Other large investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. bought a new position in Phillips 66 in the 1st quarter valued at $27,000. Olde Wealth Management LLC bought a new position in Phillips 66 in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter valued at $29,000. Pacific Center for Financial Services bought a new position in Phillips 66 in the 4th quarter valued at $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Phillips 66 in the 1st quarter valued at $29,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSX. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a research report on Thursday, March 27th. Raymond James Financial lowered their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Barclays raised their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Evercore ISI began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $135.07.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $128.97 on Tuesday. The firm has a market cap of $52.55 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $119.91 and its two-hundred day simple moving average is $117.93.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same period last year, the business earned $1.90 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business 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 dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66’s payout ratio is 109.34%.

Insider Activity

In other news, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pease bought 439 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director directly owned 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.

Phillips 66 Profile

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.