Phillips 66 $PSX Shares Purchased by Ethic Inc.

Ethic Inc. boosted its holdings in Phillips 66 (NYSE:PSX) by 13.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,347 shares of the oil and gas company’s stock after purchasing an additional 1,603 shares during the quarter. Ethic Inc.’s holdings in Phillips 66 were worth $1,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WealthTrust Axiom LLC boosted its holdings in Phillips 66 by 1.1% in the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after purchasing an additional 81 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in shares of Phillips 66 by 62.1% in 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 period. Magnus Financial Group LLC boosted its holdings in shares of Phillips 66 by 2.8% in the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after acquiring an additional 84 shares during the period. Biltmore Wealth Management LLC boosted its holdings in shares of Phillips 66 by 2.4% in the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after acquiring an additional 85 shares during the period. Finally, XML Financial LLC boosted its holdings in shares of Phillips 66 by 0.5% in the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after acquiring an additional 85 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Phillips 66 news, Director Michael A. Heim acquired 1,000 shares of the business’s stock in a transaction 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sigmund L. Cornelius purchased 500 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director owned 21,543 shares of the company’s stock, 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. Over the last three months, insiders have bought 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

PSX has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Saturday. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and increased their price objective for the company from $144.00 to $147.00 in a report on Wednesday, September 3rd. 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 report on Friday, October 3rd. Argus raised Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Finally, Evercore ISI increased their price target on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $135.07 on Friday. 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 fifty day moving average price of $131.51 and a 200 day moving average price of $122.00. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The company has a market cap of $54.58 billion, a PE ratio of 32.47, a P/E/G ratio of 1.77 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 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. The firm 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 period last year, the company earned $2.31 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given 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 is presently 115.38%.

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.