Phillips 66 (NYSE:PSX) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in Phillips 66 (NYSE:PSX) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,165 shares of the oil and gas company’s stock after buying an additional 354 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Phillips 66 were worth $751,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Gabelli Funds LLC boosted its holdings in Phillips 66 by 43.3% in the second quarter. Gabelli Funds LLC now owns 144,200 shares of the oil and gas company’s stock valued at $20,357,000 after purchasing an additional 43,600 shares during the last quarter. Fidelis Capital Partners LLC raised its position in shares of Phillips 66 by 18.1% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,258 shares of the oil and gas company’s stock valued at $433,000 after purchasing an additional 499 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Phillips 66 by 1.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 6,197 shares of the oil and gas company’s stock valued at $875,000 after buying an additional 95 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in shares of Phillips 66 by 92,145.5% during the second quarter. Frank Rimerman Advisors LLC now owns 10,147 shares of the oil and gas company’s stock worth $1,432,000 after buying an additional 10,136 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Phillips 66 by 15.6% in the second quarter. ProShare Advisors LLC now owns 84,461 shares of the oil and gas company’s stock worth $11,923,000 after buying an additional 11,374 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSX has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating for the company in a report on Friday. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley decreased their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Argus reissued a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.21.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value 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 $11,390,062.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Performance

PSX stock opened at $131.11 on Tuesday. The stock’s fifty day moving average is $135.02 and its two-hundred day moving average is $143.52. The stock has a market capitalization of $55.58 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 4.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the business posted $3.87 EPS. Phillips 66’s revenue was up 8.9% on a year-over-year basis. On average, research analysts predict that Phillips 66 will post 9.1 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a $1.15 dividend. 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 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.