Phillips 66 (NYSE:PSX) Shares Purchased by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. boosted its position in shares of Phillips 66 (NYSE:PSXFree Report) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,576 shares of the oil and gas company’s stock after buying an additional 404 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Phillips 66 were worth $609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in Phillips 66 in the third quarter valued at approximately $548,000. Ieq Capital LLC raised its position in Phillips 66 by 5.3% during the third quarter. Ieq Capital LLC now owns 10,537 shares of the oil and gas company’s stock worth $1,266,000 after acquiring an additional 530 shares during the period. Lincoln National Corp lifted its holdings in Phillips 66 by 18.5% during the third quarter. Lincoln National Corp now owns 20,796 shares of the oil and gas company’s stock valued at $2,499,000 after purchasing an additional 3,249 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Phillips 66 by 1.1% in the third quarter. Victory Capital Management Inc. now owns 313,925 shares of the oil and gas company’s stock valued at $37,718,000 after purchasing an additional 3,306 shares during the period. Finally, Nicholas Hoffman & Company LLC. purchased a new stake in shares of Phillips 66 during the third quarter worth about $222,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Scotiabank increased their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Bank of America boosted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Barclays cut their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Finally, Mizuho dropped 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.21.

Check Out Our Latest Stock Analysis on PSX

Insider Activity

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,864 shares of company stock valued at $7,567,178. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Trading Up 0.3 %

Shares of NYSE:PSX traded up $0.49 during mid-day trading on Friday, reaching $142.68. 1,250,654 shares of the company were exchanged, compared to its average volume of 2,284,897. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The firm’s 50-day simple moving average is $154.57 and its 200 day simple moving average is $141.26. The firm has a market cap of $60.49 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 1.93 and a beta of 1.41.

Phillips 66 (NYSE:PSXGet Free Report) 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 analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period in the previous year, the firm posted $4.21 earnings per share. Equities research analysts forecast that Phillips 66 will post 12.26 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 35.38%.

Phillips 66 Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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