Consolidated Planning Corp Grows Position in Phillips 66 (NYSE:PSX)

Consolidated Planning Corp boosted its stake in shares of Phillips 66 (NYSE:PSX) by 93.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,626 shares of the oil and gas company’s stock after acquiring an additional 2,720 shares during the period. Consolidated Planning Corp’s holdings in Phillips 66 were worth $740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the first quarter worth about $25,000. nVerses Capital LLC bought a new stake in Phillips 66 in the 3rd quarter worth approximately $26,000. Bank & Trust Co purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $31,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the 3rd quarter valued at approximately $30,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the second quarter valued at $34,000. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 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 transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSX. UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Barclays reduced their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.38.

Phillips 66 Trading Down 1.0 %

Shares of PSX opened at $126.68 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $52.32 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 3.94 and a beta of 1.33. The company has a 50-day moving average of $130.59 and a 200 day moving average of $137.00. Phillips 66 has a 1-year low of $110.54 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.63 EPS. On average, research analysts expect that Phillips 66 will post 7.69 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.63%. Phillips 66’s dividend payout ratio is currently 59.05%.

Phillips 66 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.