Phillips 66 (NYSE:PSX) Position Increased by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 15.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,461 shares of the oil and gas company’s stock after purchasing an additional 11,374 shares during the period. ProShare Advisors LLC’s holdings in Phillips 66 were worth $11,923,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s 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 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 is accessible through this link. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSX. Mizuho cut their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wolfe Research started coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Morgan Stanley dropped their price target on shares of 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. Barclays boosted their price objective on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Raymond James raised their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.21.

Phillips 66 Stock Up 0.9 %

Shares of PSX opened at $131.11 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $135.02 and a two-hundred day moving average price of $143.52. The stock has a market cap of $55.58 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 4.67 and a beta of 1.33. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the firm earned $3.87 EPS. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. Equities analysts predict that Phillips 66 will post 9.1 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared 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 yield of 3.51%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 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.