Benjamin Edwards Inc. Sells 3,392 Shares of Phillips 66 (NYSE:PSX)

Benjamin Edwards Inc. lessened its stake in shares of Phillips 66 (NYSE:PSX) by 10.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,447 shares of the oil and gas company’s stock after selling 3,392 shares during the period. Benjamin Edwards Inc.’s holdings in Phillips 66 were worth $3,636,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacific Center for Financial Services bought a new position in Phillips 66 in the 4th quarter valued at about $27,000. von Borstel & Associates Inc. bought a new position in Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC bought a new position in Phillips 66 in the 1st quarter valued at about $28,000. Wood Tarver Financial Group LLC bought a new position in Phillips 66 in the 4th quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter valued at about $29,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Argus raised shares of Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. UBS Group boosted their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 28th. Barclays boosted their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. TD Cowen boosted their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a report on Monday, July 28th. Finally, Wells Fargo & Company cut their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a report on Wednesday, June 11th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.20.

Phillips 66 Trading Down 0.1%

PSX opened at $119.14 on Monday. The company’s 50 day moving average is $123.09 and its 200-day moving average is $118.88. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.85. 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 company has a market cap of $48.15 billion, a P/E ratio of 28.64, a PEG ratio of 1.61 and a beta of 1.09.

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

Phillips 66 Dividend Announcement

The business also recently declared 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 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 (DPR) is presently 115.38%.

Insider Buying and Selling

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the sale, the executive vice president directly owned 43,373 shares in the company, valued at approximately $5,638,490. This trade represents a 9.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sigmund L. Cornelius purchased 500 shares of Phillips 66 stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director 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 disclosure for this purchase can be found here. Insiders acquired a total of 1,939 shares of company stock worth $237,725 in the last quarter. Corporate 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.