Phillips 66 $PSX Shares Acquired by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC increased its position in Phillips 66 (NYSE:PSX) by 5.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,867 shares of the oil and gas company’s stock after buying an additional 99 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Phillips 66 were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PSX. Wolff Wiese Magana LLC lifted its holdings in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of Phillips 66 in the first quarter valued at $27,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $29,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of Phillips 66 during the first quarter worth $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.3%

NYSE:PSX opened at $128.58 on Wednesday. The firm has a market capitalization of $51.96 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 1.81 and a beta of 1.11. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average price is $130.84 and its 200 day moving average price is $121.16.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates 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 firm earned $2.31 earnings per share. 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 declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is presently 115.38%.

Insider Transactions at Phillips 66

In other news, Director Gregory Hayes bought 8,350 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PSX. Scotiabank reaffirmed a “sector perform” rating and set a $133.00 target price on shares of Phillips 66 in a research report on Friday, July 11th. Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Jefferies Financial Group boosted their target price on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Wells Fargo & Company began coverage on Phillips 66 in a research report on Friday, October 17th. They set an “overweight” rating and a $154.00 target price on the stock. Finally, Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.50.

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.