Financial Advocates Investment Management Has $613,000 Holdings in Phillips 66 $PSX

Financial Advocates Investment Management decreased its position in Phillips 66 (NYSE:PSX) by 49.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,140 shares of the oil and gas company’s stock after selling 5,052 shares during the period. Financial Advocates Investment Management’s holdings in Phillips 66 were worth $613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its holdings in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Pinpoint Asset Management Ltd purchased a new position in shares of Phillips 66 during the first quarter valued at $29,000. Webster Bank N. A. raised its position in Phillips 66 by 58.8% during the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 100 shares during the period. Nova Wealth Management Inc. acquired a new position in Phillips 66 during the first quarter valued at $37,000. Finally, GKV Capital Management Co. Inc. lifted its stake in Phillips 66 by 111.5% in the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 174 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

PSX opened at $135.06 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market cap of $54.42 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The stock has a 50-day moving average of $134.44 and a 200-day moving average of $127.61. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $143.25.

Phillips 66 (NYSE:PSX) last posted its earnings results 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 firm had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period in the previous year, the company earned $2.04 EPS. As a group, equities research 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 announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Analysts Set New Price Targets

Several research firms have weighed in on PSX. Morgan Stanley lifted their target price on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. UBS Group reaffirmed a “buy” rating and set a $160.00 price objective on shares of Phillips 66 in a research report on Monday, November 10th. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group boosted their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $145.71.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. This represents a 25.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,986 shares of company stock worth $8,955,291 in the last quarter. 0.22% of the stock is currently owned by company insiders.

About Phillips 66

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.