Phillips 66 (NYSE:PSX) Shares Bought by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. grew its stake in Phillips 66 (NYSE:PSX) by 64.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,872 shares of the oil and gas company’s stock after purchasing an additional 11,346 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Phillips 66 were worth $4,076,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new stake in Phillips 66 during the first quarter valued at approximately $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 during the first quarter worth $28,000. Ruedi Wealth Management Inc. boosted its holdings in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 96 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 during the fourth quarter valued at $27,000. Institutional investors own 76.93% of the company’s stock.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PSX. Barclays raised their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Argus restated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. TD Cowen reduced their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Morgan Stanley dropped their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.21.

Phillips 66 Stock Down 1.9 %

PSX stock opened at $129.97 on Friday. The firm’s 50-day moving average is $135.20 and its two-hundred day moving average is $143.67. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $55.10 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 4.67 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.87 earnings per share. On average, analysts forecast that Phillips 66 will post 9.1 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

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.