LRI Investments LLC Has $174,000 Position in Phillips 66 (NYSE:PSX)

LRI Investments LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 1,331.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,231 shares of the oil and gas company’s stock after buying an additional 1,145 shares during the period. LRI Investments LLC’s holdings in Phillips 66 were worth $174,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 in the first quarter valued at $28,000. Ruedi Wealth Management Inc. increased its holdings in Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 during the fourth quarter worth $27,000. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of analyst reports. Scotiabank decreased their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Piper Sandler cut their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Wolfe Research assumed coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Argus reaffirmed a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Finally, Barclays upped their price objective on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.38.

Phillips 66 Stock Up 1.7 %

NYSE PSX opened at $135.37 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a market cap of $57.39 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 2.43 and a beta of 1.34. The company has a 50 day moving average of $137.92 and a 200-day moving average of $145.57. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.87 EPS. On average, equities research analysts expect that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.40%. Phillips 66’s payout ratio is 35.38%.

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.