7,067 Shares in Phillips 66 $PSX Purchased by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,067 shares of the oil and gas company’s stock, valued at approximately $843,000.

Several other large investors have also recently added to or reduced their stakes in the company. WealthTrust Axiom LLC increased 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 buying an additional 81 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in 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 buying an additional 82 shares in the last quarter. Magnus Financial Group LLC increased its holdings in 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 buying an additional 84 shares in the last quarter. Biltmore Wealth Management LLC increased its holdings in 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 buying an additional 85 shares in the last quarter. Finally, XML Financial LLC increased its holdings in 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 buying an additional 85 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gregory Hayes bought 8,350 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares in the company, valued at $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group increased their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. TD Cowen increased their target price on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a report on Thursday. Raymond James Financial reiterated an “outperform” rating and issued a $150.00 price target (up from $145.00) on shares of Phillips 66 in a research report on Friday, October 17th. Finally, Morgan Stanley increased their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.94.

Phillips 66 Stock Down 0.6%

PSX stock opened at $136.23 on Friday. The company’s 50 day simple moving average is $132.67 and its 200-day simple moving average is $123.27. The firm has a market capitalization of $55.05 billion, a PE ratio of 37.22, a P/E/G ratio of 1.81 and a beta of 1.11. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The firm had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same quarter last year, the business earned $2.04 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given 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 3.5%. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

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.