Diversify Advisory Services LLC Makes New $1.53 Million Investment in Phillips 66 $PSX

Diversify Advisory Services LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) in the second quarter, HoldingsChannel reports. The institutional investor bought 7,366 shares of the oil and gas company’s stock, valued at approximately $1,531,000.

A number of other institutional investors have also bought and sold shares of PSX. Key Client Fiduciary Advisors LLC increased its position in shares of Phillips 66 by 3.5% during the second quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock worth $275,000 after acquiring an additional 55 shares during the period. Threadgill Financial LLC grew its position in shares of Phillips 66 by 3.5% during the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock worth $286,000 after buying an additional 58 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in shares of Phillips 66 by 2.0% in the second quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company’s stock valued at $521,000 after acquiring an additional 60 shares in the last quarter. Somerset Trust Co lifted its stake in Phillips 66 by 0.3% in the second quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock worth $3,601,000 after acquiring an additional 63 shares during the period. Finally, Clifford Group LLC increased its position in Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.4%

PSX stock opened at $242.53 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $196.37 and a two-hundred day moving average of $178.31. Phillips 66 has a 12 month low of $122.13 and a 12 month high of $244.73. The company has a market cap of $96.77 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.18 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, topping the consensus estimate of $7.50 by $1.91. The business had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same period in the previous year, the firm posted $2.38 EPS. As a group, analysts forecast that Phillips 66 will post 24.44 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 28.95%.

Phillips 66 declared that its Board of Directors has authorized a stock repurchase program on Friday, July 31st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

PSX has been the subject of several analyst reports. UBS Group increased their price target on shares of Phillips 66 from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, July 27th. TD Cowen increased their price objective on Phillips 66 from $240.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Barclays boosted their target price on shares of Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Citigroup reissued a “neutral” rating on shares of Phillips 66 in a report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.56.

Insider Buying and Selling

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the transaction, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the sale, the executive vice president directly owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,507 shares of company stock worth $21,770,810 in the last quarter. 0.40% of the stock is currently owned by insiders.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.