Pure Financial Advisors LLC Acquires Shares of 2,371 Phillips 66 $PSX

Pure Financial Advisors LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,371 shares of the oil and gas company’s stock, valued at approximately $401,000.

A number of other hedge funds also recently made changes to their positions in PSX. SWAN Capital LLC boosted its stake in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. NFSG Corp increased its stake in shares of Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Axiom Investment Management LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $27,000. Compass Financial Management LLC bought a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $28,000. Finally, Kelleher Financial Advisors purchased a new position in Phillips 66 in the second quarter valued at approximately $29,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Down 0.7%

Phillips 66 stock opened at $240.58 on Friday. The firm has a 50 day simple moving average of $204.55 and a 200 day simple moving average of $182.15. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. Phillips 66 has a 1-year low of $126.74 and a 1-year high of $246.95. The firm has a market capitalization of $96.00 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 0.18 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The firm had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. During the same quarter in the prior year, the business posted $2.38 earnings per share. On average, analysts predict that Phillips 66 will post 23.86 earnings per share for the current year.

Phillips 66 Announces Dividend

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

Phillips 66 declared that its Board of Directors has approved a stock repurchase plan on Friday, July 31st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

PSX has been the subject of several research reports. Argus increased their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Raymond James Financial boosted their target price on Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. The Goldman Sachs Group increased their price target on Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. Finally, Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

Insider Buying and Selling

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares in the company, valued at $5,811,683.85. This trade represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $18,504,361.28. The trade was a 10.17% 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. Over the last quarter, insiders sold 100,507 shares of company stock worth $21,770,810. Company insiders own 0.40% of the company’s stock.

Phillips 66 Profile

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.