Intrua Financial LLC Grows Position in Phillips 66 $PSX

Intrua Financial LLC increased its holdings in Phillips 66 (NYSE:PSX) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,309 shares of the oil and gas company’s stock after acquiring an additional 419 shares during the quarter. Intrua Financial LLC’s holdings in Phillips 66 were worth $1,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Clearstead Trust LLC lifted its holdings in shares of Phillips 66 by 30.4% during the second quarter. Clearstead Trust LLC now owns 438 shares of the oil and gas company’s stock worth $52,000 after purchasing an additional 102 shares during the period. Arvest Bank Trust Division grew its position in Phillips 66 by 2.9% during the second quarter. Arvest Bank Trust Division now owns 7,897 shares of the oil and gas company’s stock worth $942,000 after buying an additional 219 shares during the period. Good Life Advisors LLC increased its stake in Phillips 66 by 8.1% in the 2nd quarter. Good Life Advisors LLC now owns 2,617 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 195 shares in the last quarter. Cherokee Insurance Co acquired a new position in shares of Phillips 66 during the 2nd quarter worth $2,165,000. Finally, Police & Firemen s Retirement System of New Jersey raised its position in Phillips 66 by 3.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 61,821 shares of the oil and gas company’s stock worth $7,375,000 after acquiring an additional 1,899 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSX. Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. TD Cowen raised their price target on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $150.00 price objective (up from $145.00) on shares of Phillips 66 in a research report on Friday, October 17th. Finally, Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $143.56.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $139.53 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The business’s fifty day moving average price is $133.75 and its two-hundred day moving average price is $125.65. The firm has a market capitalization of $56.22 billion, a PE ratio of 38.12, a P/E/G ratio of 1.81 and a beta of 1.08. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.93.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The firm had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter in the prior year, the firm earned $2.04 EPS. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is currently 131.15%.

Insider Buying and Selling

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,786 shares of company stock worth $5,348,075 in the last quarter. Company insiders own 0.22% of the company’s stock.

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.