Phillips 66 (NYSE:PSX) Shares Acquired by AdvisorNet Financial Inc

AdvisorNet Financial Inc grew its stake in Phillips 66 (NYSE:PSXFree Report) by 26.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,275 shares of the oil and gas company’s stock after purchasing an additional 268 shares during the period. AdvisorNet Financial Inc’s holdings in Phillips 66 were worth $170,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. First Capital Advisors Group LLC. acquired a new position in Phillips 66 in the 2nd quarter worth about $25,000. Cornerstone Planning Group LLC raised its holdings in Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the period. Worth Asset Management LLC acquired a new position in Phillips 66 in the 1st quarter worth about $32,000. Bruce G. Allen Investments LLC acquired a new position in Phillips 66 in the 4th quarter worth about $36,000. Finally, Bell Investment Advisors Inc raised its holdings in Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert W. Pease purchased 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase can be found here. Over the last three months, insiders sold 35,056 shares of company stock worth $5,272,681. Company insiders own 4.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSX. Raymond James upped their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Citigroup began coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating for the company. Wells Fargo & Company increased their target price on Phillips 66 from $163.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Barclays increased their target price on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Finally, JPMorgan Chase & Co. increased their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.31.

View Our Latest Analysis on PSX

Phillips 66 Price Performance

PSX stock opened at $172.75 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The business has a 50 day simple moving average of $149.11 and a 200-day simple moving average of $131.58. The firm has a market capitalization of $73.91 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $173.55.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. The business had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. Equities research analysts anticipate that Phillips 66 will post 12.85 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.66%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is presently 27.15%.

About Phillips 66

(Free Report)

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.

Further Reading

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

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