Commonwealth Financial Services LLC Has $244,000 Holdings in Phillips 66 (NYSE:PSX)

Commonwealth Financial Services LLC increased its holdings in Phillips 66 (NYSE:PSX) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,979 shares of the oil and gas company’s stock after purchasing an additional 112 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Phillips 66 were worth $244,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Northern Trust Corp grew its stake in shares of Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock worth $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Invesco Ltd. grew its stake in shares of Phillips 66 by 9.2% in the fourth quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company’s stock worth $468,551,000 after purchasing an additional 347,905 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Phillips 66 by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,014,113 shares of the oil and gas company’s stock worth $457,257,000 after purchasing an additional 357,705 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Phillips 66 by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock worth $466,886,000 after purchasing an additional 377,132 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $119.92 on Thursday. The firm’s 50-day moving average price is $122.88 and its 200-day moving average price is $118.92. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.85. The firm has a market capitalization of $48.46 billion, a P/E ratio of 28.83, a P/E/G ratio of 1.65 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share 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 4.87%. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Insider Buying and Selling

In other Phillips 66 news, Director Sigmund L. Cornelius bought 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. Heim bought 1,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the acquisition, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,939 shares of company stock worth $237,725 over the last ninety days. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PSX shares. Mizuho boosted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Barclays boosted their price objective 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. Piper Sandler reaffirmed a “neutral” rating and set a $145.00 price target (up previously from $144.00) on shares of Phillips 66 in a research report on Monday. UBS Group upped their price target on shares of Phillips 66 from $141.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Compass Point began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a “buy” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.20.

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.