Phillips 66 (NYSE:PSX) Stake Raised by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its holdings in Phillips 66 (NYSE:PSX) by 92,145.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,147 shares of the oil and gas company’s stock after acquiring an additional 10,136 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Phillips 66 were worth $1,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Crewe Advisors LLC acquired a new stake in Phillips 66 during the first quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 in the 2nd quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Phillips 66 during the 4th quarter worth approximately $27,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 during the 1st quarter valued at $28,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSX. TD Cowen decreased their target price 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. Scotiabank lowered their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Argus reissued a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Piper Sandler lowered their price objective on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.21.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $129.97 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market capitalization of $55.10 billion, a P/E ratio of 10.00, a P/E/G ratio of 4.67 and a beta of 1.33. The business has a 50-day moving average of $135.20 and a two-hundred day moving average of $143.65. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the prior year, the business earned $3.87 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts predict that Phillips 66 will post 9.1 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. Phillips 66’s payout ratio is presently 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.