Miracle Mile Advisors LLC Boosts Holdings in Phillips 66 (NYSE:PSX)

Miracle Mile Advisors LLC increased its holdings in Phillips 66 (NYSE:PSX) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,821 shares of the oil and gas company’s stock after buying an additional 343 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Phillips 66 were worth $3,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. purchased a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. First United Bank & Trust purchased a new position in Phillips 66 during the fourth quarter valued at approximately $31,000. Signature Resources Capital Management LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $33,000. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $36,000. Finally, Gladius Capital Management LP purchased a new position in Phillips 66 during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.2 %

Shares of PSX stock opened at $140.93 on Tuesday. The stock’s fifty day moving average is $142.91 and its two-hundred day moving average is $144.83. 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 firm has a market capitalization of $59.75 billion, a P/E ratio of 10.84, a PEG ratio of 2.12 and a beta of 1.34. Phillips 66 has a fifty-two week low of $94.51 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly 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). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the prior year, the firm earned $4.21 EPS. Research analysts expect that Phillips 66 will post 11.08 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

PSX has been the topic of several analyst reports. Mizuho lowered their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. TD Cowen lowered their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, June 21st. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Barclays lowered their target price on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating on the stock in a report on Monday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction 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 transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Phillips 66 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.