Soltis Investment Advisors LLC Acquires New Stake in Phillips 66 (NYSE:PSX)

Soltis Investment Advisors LLC purchased a new position in Phillips 66 (NYSE:PSX – Get Rating) in the first quarter, Holdings Channel reports. The institutional investor purchased 2,418 shares of the oil and gas company’s stock, valued at approximately $209,000.

A number of other large investors have also recently made changes to their positions in PSX. Evolution Advisers Inc. bought a new position in shares of Phillips 66 in the fourth quarter worth $28,000. First Community Trust NA boosted its holdings in shares of Phillips 66 by 60.6% in the first quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 126 shares during the period. Curi Wealth Management LLC bought a new position in shares of Phillips 66 in the fourth quarter worth $31,000. Accel Wealth Management boosted its holdings in shares of Phillips 66 by 127.4% in the first quarter. Accel Wealth Management now owns 357 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 200 shares during the period. Finally, Norwood Financial Corp bought a new stake in Phillips 66 during the fourth quarter valued at $33,000. 64.28% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $82.65 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 0.87. The business’s 50 day simple moving average is $90.81 and its two-hundred day simple moving average is $87.96. The stock has a market capitalization of $39.76 billion, a P/E ratio of 7.12, a price-to-earnings-growth ratio of 0.49 and a beta of 1.41. Phillips 66 has a one year low of $63.19 and a one year high of $111.28.

Phillips 66 (NYSE:PSX – Get Rating) last posted its earnings results on Friday, July 29th. The oil and gas company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.92 by $0.85. Phillips 66 had a return on equity of 29.60% and a net margin of 3.59%. The firm had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $40.93 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up 76.8% compared to the same quarter last year. Analysts forecast that Phillips 66 will post 15.55 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be paid a dividend of $0.97 per share. The ex-dividend date is Wednesday, August 17th. This represents a $3.88 annualized dividend and a dividend yield of 4.69%. Phillips 66’s dividend payout ratio (DPR) is presently 33.42%.

Insider Activity

In related news, EVP Timothy D. Roberts sold 59,100 shares of the company’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $110.21, for a total value of $6,513,411.00. Following the sale, the executive vice president now directly owns 48,201 shares of the company’s stock, valued at $5,312,232.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Timothy D. Roberts sold 59,100 shares of the company’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $110.21, for a total value of $6,513,411.00. Following the sale, the executive vice president now directly owns 48,201 shares of the company’s stock, valued at $5,312,232.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Greg C. Garland sold 146,700 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $109.70, for a total value of $16,092,990.00. Following the completion of the sale, the chief executive officer now directly owns 656,563 shares in the company, valued at $72,024,961.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 297,700 shares of company stock valued at $32,327,782. Company insiders own 0.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Phillips 66 from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, July 15th. The Goldman Sachs Group reissued a “buy” rating and set a $109.00 price objective on shares of Phillips 66 in a research note on Friday, July 1st. Wells Fargo & Company lifted their price target on Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 14th. Barclays raised their price objective on Phillips 66 from $95.00 to $113.00 and gave the company an “overweight” rating in a report on Wednesday, July 6th. Finally, Citigroup started coverage on Phillips 66 in a research report on Tuesday, April 26th. They issued a “neutral” rating and a $89.00 target price for the company. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.29.

Phillips 66 Company Profile

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Phillips 66 operates as an energy manufacturing and logistics company. 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.