Future Financial Wealth Managment LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Future Financial Wealth Managment LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 500 shares of the oil and gas company’s stock, valued at approximately $82,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Federated Hermes Inc. grew its holdings in shares of Phillips 66 by 14.8% in the 3rd quarter. Federated Hermes Inc. now owns 74,805 shares of the oil and gas company’s stock worth $8,988,000 after acquiring an additional 9,636 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Phillips 66 by 9.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 47,872 shares of the oil and gas company’s stock valued at $5,752,000 after purchasing an additional 4,065 shares during the last quarter. Mutual Advisors LLC grew its holdings in Phillips 66 by 2.9% in the third quarter. Mutual Advisors LLC now owns 8,425 shares of the oil and gas company’s stock valued at $1,012,000 after purchasing an additional 234 shares during the last quarter. Vinva Investment Management Ltd increased its position in shares of Phillips 66 by 66.8% in the third quarter. Vinva Investment Management Ltd now owns 13,188 shares of the oil and gas company’s stock valued at $1,627,000 after buying an additional 5,281 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Phillips 66 by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 202,530 shares of the oil and gas company’s stock worth $24,334,000 after buying an additional 1,030 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Scotiabank raised their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Bank of America increased their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. lifted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. TD Cowen reduced their target price on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Finally, Barclays decreased their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.79.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on 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 in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Down 0.3 %

Shares of NYSE:PSX opened at $139.40 on Friday. The company has a market capitalization of $59.10 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. The company has a 50 day moving average of $143.46 and a two-hundred day moving average of $144.50. Phillips 66 has a 52-week low of $91.78 and a 52-week high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analysts’ expectations 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 firm earned $4.21 EPS. As a group, analysts forecast that Phillips 66 will post 11.22 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.30%. Phillips 66’s payout ratio is 35.38%.

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.