AE Wealth Management LLC Has $3 Million Position in Phillips 66 (NYSE:PSX)

AE Wealth Management LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 147.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,218 shares of the oil and gas company’s stock after buying an additional 12,642 shares during the quarter. AE Wealth Management LLC’s holdings in Phillips 66 were worth $2,995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 during the first quarter worth approximately $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 in the 1st quarter valued at $26,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 in the 2nd quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 in the 4th quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC bought a new position in Phillips 66 during the 1st quarter worth $28,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Argus reissued a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Barclays lifted their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Morgan Stanley reduced their price target 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. Finally, Wolfe Research assumed coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $154.21.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $129.97 on Monday. The stock has a market cap of $55.10 billion, a PE ratio of 10.00, a P/E/G ratio of 4.67 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The business’s 50-day moving average price is $135.20 and its two-hundred day moving average price is $143.65.

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

Phillips 66 Dividend Announcement

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

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.