MONECO Advisors LLC Acquires 393 Shares of Phillips 66 (NYSE:PSX)

MONECO Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,067 shares of the oil and gas company’s stock after acquiring an additional 393 shares during the period. MONECO Advisors LLC’s holdings in Phillips 66 were worth $808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wahed Invest LLC lifted its stake in shares of Phillips 66 by 1.9% during the 4th quarter. Wahed Invest LLC now owns 7,485 shares of the oil and gas company’s stock worth $997,000 after acquiring an additional 140 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in Phillips 66 during the 4th quarter valued at $200,000. Objective Capital Management LLC bought a new stake in Phillips 66 during the 4th quarter valued at $221,000. SageView Advisory Group LLC bought a new stake in Phillips 66 during the 4th quarter valued at $396,000. Finally, Wellington Management Group LLP raised its position in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSX has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Scotiabank boosted their price target on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Piper Sandler reduced their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday. Finally, StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.57.

Phillips 66 Stock Up 0.4 %

Phillips 66 stock opened at $137.29 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The business’s 50-day simple moving average is $146.82 and its two-hundred day simple moving average is $144.07. The company has a market cap of $58.20 billion, a PE ratio of 10.56, a PEG ratio of 1.87 and a beta of 1.37. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period last year, the business earned $4.21 earnings per share. Equities analysts anticipate that Phillips 66 will post 12.16 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.35%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.

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.