Mccarter Private Wealth Services LLC Acquires 280 Shares of Phillips 66 $PSX

Mccarter Private Wealth Services LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 11.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,826 shares of the oil and gas company’s stock after acquiring an additional 280 shares during the quarter. Mccarter Private Wealth Services LLC’s holdings in Phillips 66 were worth $349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Pacific Center for Financial Services bought a new position in shares of Phillips 66 in the fourth quarter valued at $27,000. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 in the first quarter valued at $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 in the first quarter valued at $28,000. Wood Tarver Financial Group LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at $29,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 in the first quarter valued at $29,000. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSX has been the subject of several research reports. Morgan Stanley raised their price target on Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and raised their price target for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Cantor Fitzgerald initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating for the company. Evercore ISI initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They set an “outperform” rating and a $130.00 price target for the company. Finally, Barclays raised their price target on Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned 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 0.5%

PSX opened at $124.2240 on Friday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market capitalization of $50.20 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.67 and a beta of 1.09. The stock has a fifty day moving average of $124.16 and a 200-day moving average of $119.01.

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

Phillips 66 Dividend Announcement

The business 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 $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66’s payout ratio is 115.38%.

Insiders Place Their Bets

In related news, Director Sigmund L. Cornelius purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president directly owned 43,373 shares of the company’s stock, valued at approximately $5,638,490. This trade represents a 9.20% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 9,850 shares of company stock valued at $1,188,910 over the last 90 days. 0.22% of the stock is owned by company insiders.

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.