Phillips 66 $PSX Shares Acquired by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,799 shares of the oil and gas company’s stock after purchasing an additional 476 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Phillips 66 were worth $1,885,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. WealthTrust Axiom LLC raised its stake in Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after purchasing an additional 81 shares during the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares in the last quarter. Magnus Financial Group LLC raised its position in shares of Phillips 66 by 2.8% in the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after buying an additional 84 shares during the last quarter. Biltmore Wealth Management LLC boosted its position in Phillips 66 by 2.4% during the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after acquiring an additional 85 shares during the last quarter. Finally, XML Financial LLC grew its stake in Phillips 66 by 0.5% in the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after acquiring an additional 85 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent analyst reports. Scotiabank reissued a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a research note on Friday, July 11th. Wells Fargo & Company reduced their target price on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 11th. Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and raised their price target for the stock from $126.00 to $130.00 in a research note on Wednesday, July 16th. Piper Sandler increased their price objective on shares of Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. Finally, Raymond James Financial boosted their target price on shares of Phillips 66 from $142.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.19.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $132.97 on Tuesday. The company has a market cap of $53.74 billion, a P/E ratio of 31.96, a PEG ratio of 1.91 and a beta of 1.11. The business’s 50-day simple moving average is $128.99 and its 200 day simple moving average is $120.43. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. 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 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted $2.31 EPS. On average, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Insider Buying and Selling at Phillips 66

In related news, Director Sigmund L. Cornelius acquired 500 shares of Phillips 66 stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director directly owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 9,850 shares of company stock worth $1,188,910. Insiders own 0.22% of the company’s stock.

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.