Virginia Wealth Management Group Inc. Grows Stock Position in Phillips 66 $PSX

Virginia Wealth Management Group Inc. lifted its position in Phillips 66 (NYSE:PSX) by 22.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,656 shares of the oil and gas company’s stock after acquiring an additional 6,938 shares during the quarter. Phillips 66 accounts for approximately 3.7% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 4th largest position. Virginia Wealth Management Group Inc.’s holdings in Phillips 66 were worth $6,860,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Clifford Group LLC increased its stake in Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares during the last quarter. CYBER HORNET ETFs LLC lifted its position in shares of Phillips 66 by 5.7% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after buying an additional 66 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Phillips 66 by 2.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after buying an additional 72 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of Phillips 66 by 11.9% in the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 72 shares during the period. Finally, L2 Asset Management LLC grew its position in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after buying an additional 72 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSX has been the topic of a number of research reports. TD Cowen increased their price target on Phillips 66 from $213.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Wolfe Research boosted their price objective on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Raymond James Financial increased their target price on Phillips 66 from $215.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Finally, Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $192.72.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $178.83 on Wednesday. The stock has a market cap of $71.70 billion, a P/E ratio of 17.62, a P/E/G ratio of 0.24 and a beta of 0.69. The firm’s 50-day simple moving average is $175.11 and its 200 day simple moving average is $161.94. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the firm posted ($0.90) EPS. Phillips 66’s revenue was up 6.9% compared to the same quarter last year. Equities analysts expect that Phillips 66 will post 19.27 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s payout ratio is presently 50.05%.

Insider Buying and Selling

In other news, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $16,705,826.56. This represents a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.