Phillips 66 $PSX Stake Boosted by Simplicity Wealth LLC

Simplicity Wealth LLC increased its stake in Phillips 66 (NYSE:PSX) by 48.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,484 shares of the oil and gas company’s stock after purchasing an additional 1,471 shares during the quarter. Simplicity Wealth LLC’s holdings in Phillips 66 were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PSX. Brighton Jones LLC increased its stake in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Capital Investment Advisors LLC increased its stake in Phillips 66 by 4.1% in the 1st quarter. Capital Investment Advisors LLC now owns 4,314 shares of the oil and gas company’s stock worth $533,000 after purchasing an additional 169 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its stake in Phillips 66 by 21.5% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 2,365 shares of the oil and gas company’s stock worth $292,000 after purchasing an additional 419 shares in the last quarter. Portside Wealth Group LLC boosted its position in Phillips 66 by 7.5% during the 1st quarter. Portside Wealth Group LLC now owns 1,910 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 133 shares during the period. Finally, CHICAGO TRUST Co NA boosted its position in Phillips 66 by 47.4% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,808 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 1,225 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PSX shares. Piper Sandler raised their price objective on Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. Mizuho raised their price objective on Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Jefferies Financial Group raised their price objective on Phillips 66 from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, September 15th. Cantor Fitzgerald started coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research report on Wednesday, June 18th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $140.50.

Phillips 66 Stock Down 0.4%

Shares of Phillips 66 stock opened at $132.34 on Wednesday. The firm has a market cap of $53.48 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 1.91 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The stock has a 50-day simple moving average of $129.07 and a 200-day simple moving average of $120.51.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the previous year, the company earned $2.31 EPS. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Insider Buying and Selling

In other Phillips 66 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 value of $615,020.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sigmund L. Cornelius purchased 500 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock valued at $1,188,910 in the last quarter. Company insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.