Phillips 66 $PSX Shares Bought by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 33.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 16,022 shares of the oil and gas company’s stock after buying an additional 4,019 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Phillips 66 were worth $2,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Moss Adams Wealth Advisors LLC raised its position in shares of Phillips 66 by 11.4% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 1,870 shares of the oil and gas company’s stock worth $341,000 after buying an additional 191 shares during the period. Private Wealth Management Group LLC grew its position in Phillips 66 by 92.0% during the first quarter. Private Wealth Management Group LLC now owns 313 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 150 shares during the period. Drucker Wealth 3.0 LLC grew its position in Phillips 66 by 5.1% during the first quarter. Drucker Wealth 3.0 LLC now owns 6,658 shares of the oil and gas company’s stock valued at $1,213,000 after acquiring an additional 322 shares during the period. Brown Miller Wealth Management LLC acquired a new stake in Phillips 66 during the first quarter worth about $207,000. Finally, EWA LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth about $277,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kevin Omar Meyers purchased 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Argus lifted their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. UBS Group reissued a “buy” rating and set a $212.00 target price on shares of Phillips 66 in a research report on Monday, June 15th. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. TD Cowen boosted their price objective on shares of Phillips 66 from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group increased their price objective on shares of Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned 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 $192.72.

Phillips 66 Price Performance

PSX stock opened at $174.17 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $190.61. The firm has a market cap of $69.83 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 0.24 and a beta of 0.68. The stock has a 50-day simple moving average of $173.16 and a 200-day simple moving average of $160.40.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted ($0.90) EPS. On average, equities analysts predict that Phillips 66 will post 18.22 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

About Phillips 66

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.