Level Four Advisory Services LLC Purchases 5,849 Shares of Phillips 66 $PSX

Level Four Advisory Services LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 15.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,307 shares of the oil and gas company’s stock after buying an additional 5,849 shares during the quarter. Level Four Advisory Services LLC’s holdings in Phillips 66 were worth $5,348,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

PSX has been the topic of several recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $145.00 target price (up previously from $144.00) on shares of Phillips 66 in a research report on Monday, August 4th. Tudor Pickering lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a “neutral” rating for the company. Scotiabank restated a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a research note on Friday, July 11th. Finally, Morgan Stanley raised their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $136.20.

Phillips 66 Stock Up 1.0%

Phillips 66 stock opened at $123.4410 on Thursday. 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 $49.88 billion, a price-to-earnings ratio of 29.67, 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. The firm has a 50 day simple moving average of $124.10 and a 200 day simple moving average of $118.96.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the previous year, the business earned $2.31 EPS. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors 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 yield of 3.9%. The ex-dividend date is Tuesday, August 19th. Phillips 66’s payout ratio is currently 115.38%.

Insiders Place Their Bets

In related news, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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, with a total value of $61,775.00. Following the completion of the transaction, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 9,850 shares of company stock worth $1,188,910 in the last three months. Insiders own 0.22% of the company’s stock.

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.