Phillips 66 $PSX Shares Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC increased its holdings in Phillips 66 (NYSE:PSX) by 33.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,022 shares of the oil and gas company’s stock after buying an additional 4,019 shares during the period. Pathway Financial Advisers LLC’s holdings in Phillips 66 were worth $2,919,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PSX. Clifford Group LLC raised its position in Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after acquiring an additional 64 shares during the last quarter. CYBER HORNET ETFs LLC lifted its holdings in shares of Phillips 66 by 5.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after purchasing an additional 66 shares in the last quarter. GHP Investment Advisors Inc. grew its position in shares of Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after purchasing an additional 72 shares during the last quarter. Johnson Financial Group Inc. grew its position in shares of Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 72 shares during the last quarter. Finally, L2 Asset Management LLC increased its stake in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 72 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of PSX opened at $174.17 on Tuesday. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $190.61. The company’s 50 day simple moving average is $173.16 and its 200 day simple moving average is $160.40. The company has a market capitalization of $69.83 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.24 and a beta of 0.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.90) EPS. On average, sell-side analysts predict that Phillips 66 will post 18.22 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a dividend of $1.27 per share. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. This trade represents a 0.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wolfe Research lifted their price objective on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Scotiabank increased their target price on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Argus raised their price target on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Barclays boosted their price target on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. increased their price objective on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.72.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.