397 Shares in Phillips 66 $PSX Bought by Financial Gravity Companies Inc.

Financial Gravity Companies Inc. acquired a new stake in Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 397 shares of the oil and gas company’s stock, valued at approximately $47,000.

Other large investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC grew its position in Phillips 66 by 62.1% during 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 during the period. Pinpoint Asset Management Ltd purchased a new position in Phillips 66 in the first quarter valued at about $29,000. Webster Bank N. A. grew its position in shares of Phillips 66 by 58.8% during the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Nova Wealth Management Inc. purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $37,000. Finally, GKV Capital Management Co. Inc. raised its holdings in shares of Phillips 66 by 111.5% in the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 174 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on PSX shares. 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. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. BMO Capital Markets lifted their price objective on Phillips 66 from $152.00 to $160.00 in a report on Tuesday, November 11th. TD Cowen upped their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Hold” and a consensus target price of $145.18.

Phillips 66 Stock Up 2.0%

Shares of NYSE PSX opened at $142.27 on Monday. The business has a 50-day simple moving average of $133.96 and a two-hundred day simple moving average of $126.19. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $143.25. The company has a market cap of $57.33 billion, a P/E ratio of 38.87, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last announced its quarterly 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. 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 1.12% and a return on equity of 5.51%. During the same period in the prior year, the firm posted $2.04 earnings per share. Research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 38,786 shares of company stock valued at $5,348,075 over the last 90 days. Company insiders own 0.22% of the company’s stock.

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.