McClarren Financial Advisors Inc. Invests $80,000 in Phillips 66 (NYSE:PSX)

McClarren Financial Advisors Inc. acquired a new position in shares of Phillips 66 (NYSE:PSX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 647 shares of the oil and gas company’s stock, valued at approximately $80,000.

A number of other hedge funds have also modified their holdings of the business. Pacific Center for Financial Services purchased a new stake in Phillips 66 in the 4th quarter worth approximately $27,000. von Borstel & Associates Inc. purchased a new stake in Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC purchased a new stake in Phillips 66 in the 1st quarter worth approximately $28,000. Wood Tarver Financial Group LLC purchased a new stake in Phillips 66 in the 4th quarter worth approximately $29,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Phillips 66 in the 1st quarter worth approximately $29,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

NYSE:PSX opened at $121.46 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $49.08 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.63 and a beta of 1.09. The firm’s fifty day simple moving average is $122.58 and its 200 day simple moving average is $118.89. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.85.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 4.0%. Phillips 66’s payout ratio is 115.38%.

Insider Activity

In other news, Director Robert W. Pease purchased 439 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director directly owned 4,091 shares of the company’s stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sigmund L. Cornelius purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 1,939 shares of company stock worth $237,725 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. TD Cowen lifted their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. Barclays lifted their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a research note on Wednesday, June 18th. Finally, Piper Sandler lifted their price target on shares of Phillips 66 from $144.00 to $145.00 and gave the company a “neutral” rating in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Phillips 66 presently has a consensus rating of “Hold” and an average price target of $136.20.

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.