Transcend Capital Advisors LLC Has $556,000 Position in Phillips 66 (NYSE:PSX)

Transcend Capital Advisors LLC lowered its holdings in Phillips 66 (NYSE:PSXGet Rating) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,783 shares of the oil and gas company’s stock after selling 807 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Phillips 66 were worth $556,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. Dravo Bay LLC acquired a new position in Phillips 66 in the first quarter worth $26,000. GoalVest Advisory LLC acquired a new position in shares of Phillips 66 during the second quarter valued at $28,000. First Community Trust NA lifted its stake in shares of Phillips 66 by 60.6% during the first quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 126 shares during the period. Accel Wealth Management lifted its stake in shares of Phillips 66 by 127.4% during the first quarter. Accel Wealth Management now owns 357 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 200 shares during the period. Finally, Worth Asset Management LLC acquired a new position in shares of Phillips 66 during the first quarter valued at $32,000. Institutional investors and hedge funds own 71.42% of the company’s stock.

Phillips 66 Stock Up 1.6 %

NYSE:PSX opened at $83.22 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.28. The company has a market cap of $40.03 billion, a PE ratio of 7.17, a PEG ratio of 0.41 and a beta of 1.39. Phillips 66 has a 52-week low of $63.56 and a 52-week high of $111.28. The stock has a 50-day simple moving average of $86.74 and a 200 day simple moving average of $88.32.

Phillips 66 (NYSE:PSXGet Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $6.77 EPS for the quarter, beating the consensus estimate of $5.92 by $0.85. Phillips 66 had a return on equity of 29.60% and a net margin of 3.59%. The firm had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $40.93 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was up 76.8% compared to the same quarter last year. On average, sell-side analysts expect that Phillips 66 will post 16.22 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $3.88 annualized dividend and a yield of 4.66%. Phillips 66’s dividend payout ratio (DPR) is presently 33.42%.

Analyst Ratings Changes

PSX has been the topic of several research reports. Wolfe Research lowered Phillips 66 from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, September 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $109.00 price objective on shares of Phillips 66 in a report on Friday, July 1st. Wells Fargo & Company upped their price objective on Phillips 66 from $114.00 to $127.00 and gave the company an “overweight” rating in a report on Tuesday, June 14th. Piper Sandler dropped their price objective on Phillips 66 from $120.00 to $113.00 and set an “overweight” rating for the company in a report on Monday, September 12th. Finally, Credit Suisse Group upped their price objective on Phillips 66 to $122.00 in a report on Thursday, June 9th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.00.

Phillips 66 Company Profile

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Phillips 66 operates as an energy manufacturing and logistics company. 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.

See Also

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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