Wealthcare Advisory Partners LLC Increases Holdings in Phillips 66 $PSX

Wealthcare Advisory Partners LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,886 shares of the oil and gas company’s stock after purchasing an additional 160 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Phillips 66 were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Oak Hill Wealth Advisors LLC raised its stake in shares of Phillips 66 by 6.2% in the second quarter. Oak Hill Wealth Advisors LLC now owns 8,405 shares of the oil and gas company’s stock worth $1,093,000 after purchasing an additional 493 shares during the last quarter. 111 Capital purchased a new position in shares of Phillips 66 in the second quarter worth $303,000. ZWJ Investment Counsel Inc. raised its stake in shares of Phillips 66 by 6.2% in the second quarter. ZWJ Investment Counsel Inc. now owns 285,629 shares of the oil and gas company’s stock worth $34,076,000 after purchasing an additional 16,573 shares during the last quarter. Segment Wealth Management LLC raised its stake in shares of Phillips 66 by 1.6% in the second quarter. Segment Wealth Management LLC now owns 13,922 shares of the oil and gas company’s stock worth $1,661,000 after purchasing an additional 222 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. raised its stake in shares of Phillips 66 by 1.2% in the second quarter. Stock Yards Bank & Trust Co. now owns 18,880 shares of the oil and gas company’s stock worth $2,252,000 after purchasing an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on 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 sale, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael A. Heim purchased 1,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, with a total value of $125,970.00. Following the purchase, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. This represents a 9.06% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Trading Down 0.4%

Phillips 66 stock opened at $132.34 on Wednesday. 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 has a 12-month low of $91.01 and a 12-month high of $142.35. The firm has a market capitalization of $53.48 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 1.91 and a beta of 1.11. The firm has a 50 day moving average of $129.07 and a 200 day moving average of $120.51.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the prior year, the business posted $2.31 earnings per share. As a group, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio is presently 115.38%.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. Barclays boosted their price target on Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Piper Sandler boosted their price target on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.50.

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.