Mccarter Private Wealth Services LLC Has $383,000 Stock Position in Phillips 66 $PSX

Mccarter Private Wealth Services LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,210 shares of the oil and gas company’s stock after purchasing an additional 384 shares during the quarter. Mccarter Private Wealth Services LLC’s holdings in Phillips 66 were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Elliott Investment Management L.P. boosted its holdings in shares of Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Phillips 66 by 9,530.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after acquiring an additional 1,431,450 shares in the last quarter. Nuveen LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $156,482,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Phillips 66 by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after acquiring an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Phillips 66 by 15.9% in the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after acquiring an additional 653,248 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other news, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the transaction, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the 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 $4,842,180. This represents a 11.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 0.6%

Shares of PSX opened at $136.23 on Friday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The firm’s 50 day moving average is $132.67 and its 200-day moving average is $123.27. The stock 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. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last announced 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. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The company had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period last year, the firm earned $2.04 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Analysts Set New Price Targets

Several brokerages have commented on PSX. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group upped their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Evercore ISI upped their target price 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. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Finally, Scotiabank restated a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.94.

About Phillips 66

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.