Peterson Wealth Services Lowers Position in Phillips 66 $PSX

Peterson Wealth Services cut its stake in shares of Phillips 66 (NYSE:PSX) by 9.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,447 shares of the oil and gas company’s stock after selling 153 shares during the period. Peterson Wealth Services’ holdings in Phillips 66 were worth $173,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Wolff Wiese Magana LLC grew its position in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 during the 1st quarter valued at $27,000. Olde Wealth Management LLC purchased a new position in Phillips 66 in the 1st quarter worth $28,000. Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 in the first quarter worth $29,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of Phillips 66 in the first quarter worth about $29,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $135.07 on Friday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. 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 capitalization of $54.58 billion, a P/E ratio of 32.47, a PEG ratio of 1.78 and a beta of 1.11. The stock’s 50 day moving average is $131.51 and its 200 day moving average is $121.79.

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. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period last year, the business earned $2.31 EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced 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 is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. TD Cowen increased their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Mizuho boosted 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. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $141.50.

Insider Activity at Phillips 66

In other news, Director Gregory Hayes bought 8,350 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael A. Heim purchased 1,000 shares of Phillips 66 stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average cost of $125.97 per share, with a total value of $125,970.00. Following the transaction, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 9,850 shares of company stock worth $1,188,910. Company insiders own 0.22% of the company’s stock.

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.