Azzad Asset Management Inc. ADV Boosts Stake in Phillips 66 (NYSE:PSX)

Azzad Asset Management Inc. ADV raised its position in shares of Phillips 66 (NYSE:PSX) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,600 shares of the oil and gas company’s stock after buying an additional 1,654 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Phillips 66 were worth $2,708,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in Phillips 66 during the first quarter worth approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the 1st quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new position in Phillips 66 during the 2nd quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $27,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth approximately $28,000. 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 company’s stock in a transaction dated 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 sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.1 %

Shares of NYSE:PSX opened at $138.54 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. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The stock has a market cap of $58.73 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 5.46 and a beta of 1.33. The business has a 50-day moving average price of $133.83 and a 200-day moving average price of $142.17.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.87 EPS. Equities analysts predict that Phillips 66 will post 8.21 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.32%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Mizuho reduced their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Barclays boosted their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Scotiabank reduced their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $152.71.

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.