Cowa LLC Has $988,000 Position in Phillips 66 (NYSE:PSX)

Cowa LLC lessened its stake in shares of Phillips 66 (NYSE:PSX) by 1.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,000 shares of the oil and gas company’s stock after selling 99 shares during the period. Cowa LLC’s holdings in Phillips 66 were worth $988,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cary Street Partners Financial LLC bought a new stake in Phillips 66 during the 4th quarter valued at $4,333,000. Wealth Enhancement Advisory Services LLC increased its stake in Phillips 66 by 20.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock valued at $19,625,000 after purchasing an additional 26,825 shares in the last quarter. Alta Advisers Ltd bought a new stake in Phillips 66 during the 1st quarter valued at $253,000. Advisory Resource Group increased its stake in Phillips 66 by 6.8% during the 1st quarter. Advisory Resource Group now owns 256,327 shares of the oil and gas company’s stock valued at $31,651,000 after purchasing an additional 16,300 shares in the last quarter. Finally, Strategic Planning Group LLC increased its stake in Phillips 66 by 23.7% during the 1st quarter. Strategic Planning Group LLC now owns 35,348 shares of the oil and gas company’s stock valued at $4,365,000 after purchasing an additional 6,774 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PSX shares. Piper Sandler restated a “neutral” rating and set a $145.00 price target (up previously from $144.00) on shares of Phillips 66 in a research note on Monday, August 4th. Evercore ISI began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $130.00 target price for the company. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a “neutral” rating for the company. TD Cowen upped their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Finally, Raymond James Financial set a $142.00 target price on shares of Phillips 66 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.20.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes acquired 8,350 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president directly owned 43,373 shares in the company, valued at approximately $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 10,289 shares of company stock valued at $1,238,890. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $123.62 on Friday. The company’s 50-day moving average is $123.85 and its 200 day moving average is $118.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market capitalization of $49.96 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the firm earned $2.31 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.9%. Phillips 66’s dividend payout ratio is 115.38%.

Phillips 66 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.