Phillips 66 (NYSE:PSX) Shares Purchased by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC lifted its stake in Phillips 66 (NYSE:PSX) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,575 shares of the oil and gas company’s stock after acquiring an additional 136 shares during the period. Avidian Wealth Solutions LLC’s holdings in Phillips 66 were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC grew its holdings in Phillips 66 by 4.2% during the third quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after acquiring an additional 309,239 shares during the period. Morgan Stanley lifted its position in shares of Phillips 66 by 2.1% in the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after acquiring an additional 138,646 shares in the last quarter. Northern Trust Corp boosted its stake in Phillips 66 by 6.2% in the 3rd quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock worth $586,463,000 after purchasing an additional 283,010 shares during the period. LSV Asset Management grew its position in Phillips 66 by 2.0% during the 4th quarter. LSV Asset Management now owns 1,967,536 shares of the oil and gas company’s stock worth $261,958,000 after purchasing an additional 38,673 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Phillips 66 by 21.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock valued at $233,909,000 after purchasing an additional 350,211 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PSX. JPMorgan Chase & Co. lifted their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler upped their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Scotiabank increased their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Mizuho reduced their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded up $1.75 on Monday, hitting $145.36. The company had a trading volume of 907,067 shares, compared to its average volume of 2,933,085. The stock has a market cap of $61.63 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41. The stock has a 50 day moving average price of $155.55 and a 200 day moving average price of $138.35. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the firm earned $4.21 EPS. Analysts expect that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.16%. Phillips 66’s dividend payout ratio is presently 32.31%.

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.