Exencial Wealth Advisors LLC Has $2.58 Million Position in Phillips 66 $PSX

Exencial Wealth Advisors LLC lowered its position in Phillips 66 (NYSE:PSX) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,586 shares of the oil and gas company’s stock after selling 536 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Phillips 66 were worth $2,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Elliott Investment Management L.P. raised its position in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of Phillips 66 by 9,530.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after acquiring an additional 1,431,450 shares during the last quarter. Nuveen LLC bought a new position in shares of Phillips 66 during the first quarter worth about $156,482,000. Price T Rowe Associates Inc. MD raised its position in shares of Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after acquiring an additional 682,459 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after acquiring an additional 653,248 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSX. UBS Group raised their price objective on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Evercore ISI raised their price objective on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Argus upgraded Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.50.

Phillips 66 Trading Up 2.0%

Shares of PSX stock opened at $131.23 on Thursday. The company has a market cap of $53.03 billion, a P/E ratio of 31.55, a PEG ratio of 1.79 and a beta of 1.11. The stock has a 50 day simple moving average of $131.02 and a two-hundred day simple moving average of $121.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the previous year, the company posted $2.31 earnings per share. Research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

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 is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s payout ratio is currently 115.38%.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 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 transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sigmund L. Cornelius bought 500 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director owned 21,543 shares of the company’s stock, valued at $2,661,637.65. The trade was a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 9,850 shares of company stock worth $1,188,910 in the last ninety days. Corporate 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.