J.W. Cole Advisors Inc. Boosts Stock Position in Phillips 66 $PSX

J.W. Cole Advisors Inc. grew its position in Phillips 66 (NYSE:PSX) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,182 shares of the oil and gas company’s stock after purchasing an additional 414 shares during the period. J.W. Cole Advisors Inc.’s holdings in Phillips 66 were worth $6,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC increased its holdings in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the period. Pinpoint Asset Management Ltd acquired a new stake in Phillips 66 during the 1st quarter valued at approximately $29,000. Webster Bank N. A. boosted its holdings in shares of Phillips 66 by 58.8% in 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 last quarter. Nova Wealth Management Inc. acquired a new stake in shares of Phillips 66 in the first quarter worth $37,000. Finally, GKV Capital Management Co. Inc. increased its stake in shares of Phillips 66 by 111.5% in the first quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,825,455.84. This represents a 31.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 64,986 shares of company stock valued at $8,955,291 in the last three months. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Barclays lifted their price objective on Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Cowen restated a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Finally, Evercore ISI lifted their price target on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $145.71.

Phillips 66 Trading Up 0.7%

Shares of Phillips 66 stock opened at $134.10 on Wednesday. The firm has a 50-day simple moving average of $134.40 and a two-hundred day simple moving average of $127.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $143.25. The company has a market cap of $54.03 billion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08.

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 for the quarter, beating the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same quarter in the previous year, the business earned $2.04 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s payout ratio is 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.