SYM FINANCIAL Corp Invests $207,000 in Phillips 66 $PSX

SYM FINANCIAL Corp acquired a new position in shares of Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,739 shares of the oil and gas company’s stock, valued at approximately $207,000.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Phillips 66 in the first quarter valued at approximately $227,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Phillips 66 by 10.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,130 shares of the oil and gas company’s stock valued at $5,739,000 after purchasing an additional 4,425 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Phillips 66 by 14.4% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 97 shares during the last quarter. Finally, Amalgamated Bank increased its stake in Phillips 66 by 1.1% in the first quarter. Amalgamated Bank now owns 80,038 shares of the oil and gas company’s stock valued at $9,883,000 after purchasing an additional 837 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PSX shares. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. 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, October 3rd. Scotiabank reaffirmed a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Wells Fargo & Company assumed coverage on Phillips 66 in a research note on Friday, October 17th. They set an “overweight” rating and a $154.00 price target on the stock. Finally, Raymond James Financial restated an “outperform” rating and set a $150.00 price target (up previously from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $141.50.

Insider Activity at Phillips 66

In other news, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory Hayes bought 8,350 shares of the stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.22% of the stock is currently owned by insiders.

Phillips 66 Trading Down 1.1%

Shares of PSX stock opened at $133.92 on Wednesday. The business’s 50 day moving average is $131.99 and its two-hundred day moving average is $122.62. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The company has a market capitalization of $54.12 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 1.78 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.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) 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.