Philip James Wealth Mangement LLC Takes $906,000 Position in Phillips 66 (NYSE:PSX)

Philip James Wealth Mangement LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,895 shares of the oil and gas company’s stock, valued at approximately $906,000.

Other large investors have also made changes to their positions in the company. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the first quarter valued at $25,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 during the third quarter valued at $26,000. Bank & Trust Co acquired a new position in shares of Phillips 66 during the second quarter valued at $31,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 during the third quarter valued at $30,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the second quarter valued at $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Mizuho dropped their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Finally, Barclays dropped their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.38.

Phillips 66 Stock Down 1.6 %

Shares of NYSE:PSX traded down $2.03 during mid-day trading on Friday, reaching $124.65. 222,645 shares of the stock were exchanged, compared to its average volume of 2,653,693. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $51.48 billion, a P/E ratio of 16.26, a P/E/G ratio of 3.94 and a beta of 1.33. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The stock’s 50 day simple moving average is $130.59 and its 200-day simple moving average is $137.00.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 during 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%. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company earned $4.63 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 7.69 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.69%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.