Ashton Thomas Private Wealth LLC Has $1.34 Million Position in Phillips 66 $PSX

Ashton Thomas Private Wealth LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 68.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,212 shares of the oil and gas company’s stock after selling 23,974 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Phillips 66 were worth $1,338,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. WealthTrust Axiom LLC raised its stake in Phillips 66 by 1.1% during the 1st 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 during the period. Wolff Wiese Magana LLC raised its stake 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 period. Magnus Financial Group LLC raised its stake in Phillips 66 by 2.8% during the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 84 shares during the period. Biltmore Wealth Management LLC raised its stake in Phillips 66 by 2.4% during the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after purchasing an additional 85 shares during the period. Finally, XML Financial LLC raised its stake in Phillips 66 by 0.5% during the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after purchasing an additional 85 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PSX shares. Jefferies Financial Group upped their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Evercore ISI upped their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Mizuho upped their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Finally, Piper Sandler upped their price target on shares of Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.50.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes bought 8,350 shares of the stock in a transaction on Thursday, August 14th. The shares were purchased 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 directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 3.2%

Phillips 66 stock opened at $137.96 on Thursday. 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 company has a market capitalization of $55.75 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 1.75 and a beta of 1.11. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The company’s fifty day moving average price is $132.28 and its two-hundred day moving average price is $122.90.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the prior year, the business posted $2.04 earnings per share. On average, analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. 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.