Capital Asset Advisory Services LLC Takes $271,000 Position in Phillips 66 (NYSE:PSX)

Capital Asset Advisory Services LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,586 shares of the oil and gas company’s stock, valued at approximately $271,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $27,000. First United Bank & Trust acquired a new stake in Phillips 66 in the fourth quarter worth $31,000. Signature Resources Capital Management LLC acquired a new stake in Phillips 66 in the fourth quarter worth $33,000. Bruce G. Allen Investments LLC acquired a new stake in Phillips 66 in the fourth quarter worth $36,000. Finally, Gladius Capital Management LP acquired a new stake in Phillips 66 in the fourth quarter worth $36,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Scotiabank increased their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Raymond James lowered their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Argus reissued a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Piper Sandler lowered their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. raised their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy 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 $157.79.

Phillips 66 Trading Up 1.3 %

Shares of NYSE:PSX traded up $1.77 during midday trading on Friday, reaching $141.17. The company had a trading volume of 10,149,704 shares, compared to its average volume of 2,794,807. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a 1-year low of $93.40 and a 1-year high of $174.08. The firm has a market cap of $59.85 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. The company has a fifty day simple moving average of $142.91 and a two-hundred day simple moving average of $144.57.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the business earned $4.21 EPS. Research analysts predict that Phillips 66 will post 11.22 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.26%. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

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.