Signal Advisors Wealth LLC Invests $253,000 in Phillips 66 $PSX

Signal Advisors Wealth LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,120 shares of the oil and gas company’s stock, valued at approximately $253,000.

Other large investors also recently modified their holdings of the company. von Borstel & Associates Inc. purchased a new position in shares of Phillips 66 during the 1st quarter valued at $27,000. Olde Wealth Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at $28,000. Wood Tarver Financial Group LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at $29,000. Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PSX. Cantor Fitzgerald began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a “neutral” rating on the stock. Evercore ISI boosted their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho upped their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the company from $144.00 to $147.00 in a report on Wednesday, September 3rd. Finally, Compass Point initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $138.94.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes purchased 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. This represents a 39.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the transaction, the director directly owned 12,043 shares of the company’s stock, valued at $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 9,850 shares of company stock worth $1,188,910. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 1.5%

NYSE:PSX opened at $129.39 on Friday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.60. The firm has a 50 day moving average of $127.04 and a 200 day moving average of $119.78. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $52.29 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 1.86 and a beta of 1.15.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

About Phillips 66

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.