Ashton Thomas Private Wealth LLC Has $1.34 Million Position in Phillips 66 $PSX

Ashton Thomas Private Wealth LLC reduced its holdings in Phillips 66 (NYSE:PSX) by 68.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,212 shares of the oil and gas company’s stock after selling 23,974 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Phillips 66 were worth $1,338,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elliott Investment Management L.P. lifted its stake in shares of Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after buying an additional 14,950,000 shares during the period. Chronos Wealth Management LLC bought a new stake in shares of Phillips 66 in the second quarter valued at about $281,000. Alta Advisers Ltd bought a new stake in shares of Phillips 66 in the first quarter valued at about $253,000. Sustainable Insight Capital Management LLC bought a new stake in shares of Phillips 66 in the first quarter valued at about $1,457,000. Finally, Evergreen Wealth Solutions LLC bought a new stake in shares of Phillips 66 in the first quarter valued at about $292,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

NYSE PSX opened at $137.96 on Thursday. The firm has a market cap of $55.75 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 1.75 and a beta of 1.11. The company has a 50 day moving average of $132.28 and a 200-day moving average of $122.90. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the business posted $2.04 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 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 Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

Insider Activity at Phillips 66

In other news, Director Gregory Hayes acquired 8,350 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. This represents a 39.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Phillips 66 in a research note on Friday, October 17th. They issued an “overweight” rating and a $154.00 target price for the company. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Jefferies Financial Group raised their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Scotiabank restated a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a research note on Friday, July 11th. Finally, Mizuho raised their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $141.50.

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.