RM Financial Services LLC Invests $430,000 in Phillips 66 $PSX

RM Financial Services LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, Holdings Channel.com reports. The firm acquired 3,335 shares of the oil and gas company’s stock, valued at approximately $430,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GWN Securities Inc. grew its holdings in shares of Phillips 66 by 13.4% during the fourth quarter. GWN Securities Inc. now owns 4,512 shares of the oil and gas company’s stock worth $582,000 after buying an additional 532 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Phillips 66 by 1.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 222,062 shares of the oil and gas company’s stock valued at $28,655,000 after buying an additional 2,871 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Phillips 66 by 7.8% during the fourth quarter. Deutsche Bank AG now owns 1,049,771 shares of the oil and gas company’s stock valued at $135,462,000 after buying an additional 75,729 shares during the period. Pettyjohn Wood & White Inc. lifted its stake in shares of Phillips 66 by 6.7% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 1,985 shares of the oil and gas company’s stock valued at $256,000 after buying an additional 125 shares during the period. Finally, Gaddis Premier Wealth Advisors LLC acquired a new stake in Phillips 66 during the fourth quarter worth approximately $236,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.6%

Shares of NYSE PSX opened at $181.78 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $72.88 billion, a PE ratio of 17.91, a P/E/G ratio of 0.26 and a beta of 0.68. The firm has a fifty day moving average of $172.49 and a 200-day moving average of $157.28. Phillips 66 has a 52-week low of $118.00 and a 52-week high of $190.61.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.90) earnings per share. On average, analysts anticipate that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PSX. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. Piper Sandler upped their target price on Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Finally, Barclays increased their target price on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $191.44.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. The trade was a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 49,429 shares of company stock worth $8,734,146. 0.40% of the stock is currently owned by company insiders.

Phillips 66 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.