Commonwealth Financial Services LLC Increases Stake in Phillips 66 $PSX

Commonwealth Financial Services LLC increased its holdings in Phillips 66 (NYSE:PSX) by 5.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,090 shares of the oil and gas company’s stock after purchasing an additional 111 shares during the period. Commonwealth Financial Services LLC’s holdings in Phillips 66 were worth $249,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PSX. Brighton Jones LLC boosted its stake in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Phillips 66 by 15.2% in the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock valued at $1,190,000 after purchasing an additional 1,268 shares in the last quarter. CX Institutional boosted its stake in shares of Phillips 66 by 14.8% in the 1st quarter. CX Institutional now owns 3,642 shares of the oil and gas company’s stock valued at $450,000 after purchasing an additional 469 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in shares of Phillips 66 by 31.0% in the 1st quarter. Simon Quick Advisors LLC now owns 2,309 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 547 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Phillips 66 by 1.3% in the 1st quarter. Fifth Third Bancorp now owns 25,567 shares of the oil and gas company’s stock valued at $3,157,000 after purchasing an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 3.1%

Shares of NYSE PSX opened at $127.01 on Friday. 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 fifty day simple moving average of $129.51 and a two-hundred day simple moving average of $120.59. The firm has a market capitalization of $51.33 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping 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 company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period last year, the business earned $2.31 EPS. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.8%. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

Analyst Ratings Changes

PSX has been the subject of a number of research reports. Piper Sandler upped their price objective on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Compass Point assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a “buy” rating for the company. Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a “neutral” rating for the company. Finally, Mizuho increased their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.75.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael A. Heim acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the acquisition, the director owned 12,043 shares of the company’s stock, valued at $1,517,056.71. The trade was a 9.06% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by corporate 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.