Wealth Enhancement Advisory Services LLC trimmed its holdings in Phillips 66 (NYSE:PSX - Free Report) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 113,874 shares of the oil and gas company's stock after selling 8,408 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Phillips 66 were worth $16,076,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth about $1,910,000. Cerity Partners LLC boosted its stake in shares of Phillips 66 by 29.1% during the 4th quarter. Cerity Partners LLC now owns 46,863 shares of the oil and gas company's stock worth $6,239,000 after acquiring an additional 10,550 shares in the last quarter. Sapient Capital LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth about $269,000. Simplicity Solutions LLC boosted its stake in shares of Phillips 66 by 4.6% during the 4th quarter. Simplicity Solutions LLC now owns 8,242 shares of the oil and gas company's stock worth $1,097,000 after acquiring an additional 362 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Phillips 66 during the 4th quarter worth about $200,000. 76.93% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Phillips 66
In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm's stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares of the company's stock, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.
Phillips 66 Trading Up 2.3 %
Shares of NYSE PSX traded up $3.04 during midday trading on Wednesday, reaching $137.70. 2,134,373 shares of the stock were exchanged, compared to its average volume of 2,660,125. The company has a 50 day simple moving average of $138.15 and a 200 day simple moving average of $146.04. The stock has a market capitalization of $58.38 billion, a P/E ratio of 10.62, a PEG ratio of 2.37 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08.
Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results 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. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter last year, the firm earned $3.87 EPS. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts expect that Phillips 66 will post 9.53 earnings per share for the current year.
Phillips 66 Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.34%. Phillips 66's dividend payout ratio is presently 35.38%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on PSX. TD Cowen increased their target price on shares of Phillips 66 from $155.00 to $162.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Scotiabank decreased their price target on shares of Phillips 66 from $156.00 to $145.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 12th. Argus reaffirmed a "buy" rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Raymond James raised their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $165.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.38.
Read Our Latest Research Report on PSX
Phillips 66 Company Profile
(Free Report)
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.
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