Creative Planning Buys 147 Shares of Phillips 66 (NYSE:PSX)

Creative Planning raised its stake in shares of Phillips 66 (NYSE:PSX) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 219,183 shares of the oil and gas company’s stock after purchasing an additional 147 shares during the quarter. Creative Planning owned 0.05% of Phillips 66 worth $28,812,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PSX. Crewe Advisors LLC bought a new position in Phillips 66 during the first quarter valued at about $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the first quarter valued at $28,000. Ruedi Wealth Management Inc. lifted its position in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 96 shares during the period. Finally, Bank & Trust Co acquired a new stake in Phillips 66 during the second quarter worth $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $132.60 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $56.22 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 5.75 and a beta of 1.33. The firm’s 50 day moving average is $133.18 and its 200-day moving average is $140.20. 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 quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.87 EPS. Sell-side analysts forecast that Phillips 66 will post 7.85 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.47%. Phillips 66’s payout ratio is 35.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSX. Morgan Stanley reduced their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Bank of America started coverage on Phillips 66 in a report on Thursday. They issued a “buy” rating and a $156.00 target price for the company. Wolfe Research initiated coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $149.50.

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.