Phillips 66 $PSX Shares Acquired by Segment Wealth Management LLC

Segment Wealth Management LLC lifted its position in Phillips 66 (NYSE:PSX) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,922 shares of the oil and gas company’s stock after buying an additional 222 shares during the quarter. Segment Wealth Management LLC’s holdings in Phillips 66 were worth $1,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. Wolff Wiese Magana LLC increased its holdings in Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Phillips 66 during the 1st quarter worth about $27,000. Olde Wealth Management LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $29,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Argus raised Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Scotiabank reaffirmed a “sector perform” rating and issued a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the company from $126.00 to $130.00 in a research note on Wednesday, July 16th. Jefferies Financial Group increased their target price on Phillips 66 from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, September 15th. Finally, Morgan Stanley raised their price objective on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $140.19.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Hayes bought 8,350 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 9,850 shares of company stock valued at $1,188,910 and sold 13,179 shares valued at $1,779,165. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $133.14 on Friday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The stock has a market capitalization of $53.80 billion, a P/E ratio of 32.00, a PEG ratio of 1.95 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average price is $128.89 and its 200 day moving average price is $120.49.

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

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s payout ratio is presently 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.