AE Wealth Management LLC Has $1.05 Million Stock Position in Phillips 66 (NYSE:PSX)

AE Wealth Management LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 1.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,503 shares of the oil and gas company’s stock after purchasing an additional 134 shares during the period. AE Wealth Management LLC’s holdings in Phillips 66 were worth $1,050,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PSX. von Borstel & Associates Inc. acquired a new stake in Phillips 66 during the 1st quarter valued at $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 in the first quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 in the first quarter valued at about $29,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PSX shares. TD Cowen increased their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Morgan Stanley increased their target price on Phillips 66 from $122.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Raymond James Financial set a $142.00 price target on Phillips 66 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Cantor Fitzgerald started coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a “neutral” rating on the stock. Finally, Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Hold” and an average price target of $135.20.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president directly owned 43,373 shares of the company’s stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $124.91 on Monday. The firm has a 50 day moving average of $121.55 and a 200-day moving average of $118.62. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $50.89 billion, a PE ratio of 30.03, a PEG ratio of 1.82 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.86%. The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the previous year, the business earned $2.31 earnings per share. On average, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Phillips 66 Company 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.