Prospera Financial Services Inc Has $4.82 Million Position in Phillips 66 $PSX

Prospera Financial Services Inc lessened its position in Phillips 66 (NYSE:PSX) by 12.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,336 shares of the oil and gas company’s stock after selling 5,596 shares during the period. Prospera Financial Services Inc’s holdings in Phillips 66 were worth $4,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Elliott Investment Management L.P. grew its holdings in Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC lifted its position 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 valued at $172,564,000 after buying an additional 1,431,450 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $156,482,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Phillips 66 by 11.3% during the 1st 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 period. Finally, Invesco Ltd. increased its holdings in shares of Phillips 66 by 15.9% during the 1st 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.

Insiders Place Their Bets

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Hayes acquired 8,350 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased 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 of the company’s stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $137.80 on Monday. The company’s 50 day moving average price is $133.20 and its two-hundred day moving average price is $124.96. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The firm has a market cap of $55.52 billion, a PE ratio of 37.65, a PEG ratio of 1.81 and a beta of 1.08. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same period in the previous year, the business earned $2.04 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio is 131.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Mizuho raised their price target on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Evercore ISI lifted their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Finally, Jefferies Financial Group raised their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $143.56.

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.