AE Wealth Management LLC Has $1.27 Million Holdings in Phillips 66 $PSX

AE Wealth Management LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 25.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,633 shares of the oil and gas company’s stock after purchasing an additional 2,130 shares during the quarter. AE Wealth Management LLC’s holdings in Phillips 66 were worth $1,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wolff Wiese Magana LLC lifted its stake in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares during the period. Pinpoint Asset Management Ltd acquired a new position in Phillips 66 in the 1st quarter valued at approximately $29,000. Webster Bank N. A. lifted its position in shares of Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 100 shares during the period. Nova Wealth Management Inc. acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $37,000. Finally, GKV Capital Management Co. Inc. increased its position in shares of Phillips 66 by 111.5% during the first quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 174 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on PSX. Mizuho boosted their price target on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. TD Cowen boosted their target price on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, Citigroup lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $143.56.

Phillips 66 Trading Down 2.1%

Shares of NYSE:PSX opened at $137.93 on Thursday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market capitalization of $55.57 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a 50-day simple moving average of $133.59 and a 200 day simple moving average of $125.55.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter last year, the firm earned $2.04 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. Phillips 66’s dividend payout ratio is 131.15%.

Insider Activity

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This trade represents a 25.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,786 shares of company stock valued at $5,348,075 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Profile

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.