apricus wealth LLC Purchases New Position in Phillips 66 $PSX

apricus wealth LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, Holdings Channel reports. The fund purchased 1,900 shares of the oil and gas company’s stock, valued at approximately $227,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its holdings in Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PSX has been the subject of several research reports. Raymond James Financial restated an “outperform” rating and issued a $150.00 price objective (up previously from $145.00) on shares of Phillips 66 in a research report on Friday. UBS Group raised their price objective on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Scotiabank restated a “sector perform” rating and issued a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Finally, Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $141.50.

Phillips 66 Stock Up 0.9%

Shares of NYSE:PSX opened at $130.42 on Tuesday. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The company has a 50 day moving average of $130.67 and a 200-day moving average of $121.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a market cap of $52.71 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 1.79 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 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 analysts’ expectations of $32.11 billion. During the same quarter in the previous year, the company earned $2.31 EPS. On average, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company 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 dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. Phillips 66’s payout ratio is currently 115.38%.

Insider Activity

In other news, Director Michael A. Heim acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the acquisition, the director owned 12,043 shares in the company, valued at $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’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 transaction 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 represents a 11.27% decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 9,850 shares of company stock worth $1,188,910 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.