C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Raises Position in Phillips 66 (NYSE:PSX)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in shares of Phillips 66 (NYSE:PSX) by 9.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,635 shares of the oil and gas company’s stock after acquiring an additional 402 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Phillips 66 were worth $576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of PSX. Pacific Center for Financial Services purchased a new position in shares of Phillips 66 during the 4th quarter worth $27,000. von Borstel & Associates Inc. purchased a new position in shares of Phillips 66 during the 1st quarter worth $27,000. Olde Wealth Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at $28,000. Wood Tarver Financial Group LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. TD Cowen lifted their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Raymond James Financial set a $142.00 target price on shares of Phillips 66 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Barclays lifted their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Finally, Compass Point assumed coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a “buy” rating on the stock. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.20.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the transaction, the executive vice president owned 43,373 shares in the company, valued at $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,939 shares of company stock worth $237,725. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $118.36 on Tuesday. The company’s 50-day moving average price is $123.17 and its 200-day moving average price is $118.86. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.85. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market cap of $47.83 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping 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 firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the previous year, the firm posted $2.31 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.1%. Phillips 66’s payout ratio is 115.38%.

About Phillips 66

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.