Kiker Wealth Management LLC Purchases New Position in Phillips 66 $PSX

Kiker Wealth Management LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 557 shares of the oil and gas company’s stock, valued at approximately $66,000.

Several other institutional investors have also recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. lifted its holdings in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Phillips 66 by 9,530.9% in 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 in the first quarter worth about $156,482,000. Price T Rowe Associates Inc. MD raised its stake in shares of Phillips 66 by 11.3% in 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 stake in shares of Phillips 66 by 15.9% in 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. 76.93% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Gregory Hayes bought 8,350 shares of the stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction 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 $4,842,180. The trade was a 11.27% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 9,850 shares of company stock worth $1,188,910 over the last three months. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 2.4%

Shares of NYSE:PSX opened at $129.82 on Tuesday. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The company has a 50 day moving average of $129.67 and a 200-day moving average of $120.61. 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 stock has a market cap of $52.46 billion, a price-to-earnings ratio of 31.21, a P/E/G ratio of 1.86 and a beta of 1.11.

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

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given 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%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSX. JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a research note on Wednesday, June 18th. Morgan Stanley boosted their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. Raymond James Financial boosted their target price on shares of Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Finally, Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.75.

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.