Wedbush Securities Inc. Has $1.89 Million Stock Holdings in Phillips 66 $PSX

Wedbush Securities Inc. boosted its position in Phillips 66 (NYSE:PSX) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 15,849 shares of the oil and gas company’s stock after buying an additional 410 shares during the quarter. Wedbush Securities Inc.’s holdings in Phillips 66 were worth $1,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nvwm LLC boosted its stake in shares of Phillips 66 by 2.3% in the 2nd quarter. Nvwm LLC now owns 4,549 shares of the oil and gas company’s stock valued at $543,000 after purchasing an additional 104 shares during the last quarter. Atlas Legacy Advisors LLC lifted its holdings in Phillips 66 by 71.9% in the second quarter. Atlas Legacy Advisors LLC now owns 4,654 shares of the oil and gas company’s stock valued at $555,000 after buying an additional 1,947 shares during the period. Savant Capital LLC lifted its holdings in Phillips 66 by 69.7% in the second quarter. Savant Capital LLC now owns 34,696 shares of the oil and gas company’s stock valued at $4,139,000 after buying an additional 14,251 shares during the period. Excalibur Management Corp boosted its stake in Phillips 66 by 18.1% in the second quarter. Excalibur Management Corp now owns 3,964 shares of the oil and gas company’s stock valued at $473,000 after acquiring an additional 607 shares during the last quarter. Finally, Soltis Investment Advisors LLC grew its holdings in Phillips 66 by 9.2% during the 2nd quarter. Soltis Investment Advisors LLC now owns 2,500 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 210 shares during the period. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSX has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Raymond James Financial reiterated an “outperform” rating and issued a $150.00 price objective (up previously from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. UBS Group increased their target price on Phillips 66 from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Jefferies Financial Group upped their price target on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Hold” and a consensus price target of $143.56.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction dated Thursday, August 14th. The stock was bought at an average price 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 approximately $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction 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. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Down 0.3%

NYSE:PSX opened at $137.80 on Friday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. The stock has a 50-day moving average price of $133.20 and a two-hundred day moving average price of $124.81. The stock has a market cap of $55.52 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 1.81 and a beta of 1.08. 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 released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The business had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter in the previous year, the business posted $2.04 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Phillips 66’s payout ratio is presently 131.15%.

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.