2,467 Shares in Phillips 66 (NYSE:PSX) Acquired by M Holdings Securities Inc.

M Holdings Securities Inc. acquired a new position in shares of Phillips 66 (NYSE:PSXGet Rating) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,467 shares of the oil and gas company’s stock, valued at approximately $213,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Dravo Bay LLC bought a new stake in Phillips 66 in the 1st quarter valued at about $26,000. First Community Trust NA raised its holdings 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 buying an additional 126 shares during the last quarter. Accel Wealth Management boosted its position 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 worth $31,000 after buying an additional 200 shares during the period. Worth Asset Management LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $32,000. Finally, Godsey & Gibb Associates acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $33,000. 71.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PSX. Wolfe Research lowered Phillips 66 from an “outperform” rating to a “peer perform” rating in a report on Wednesday, September 14th. BMO Capital Markets began coverage on shares of Phillips 66 in a research note on Monday, June 13th. They issued an “outperform” rating and a $132.00 price target for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $109.00 price objective on shares of Phillips 66 in a research note on Friday, July 1st. Wells Fargo & Company upped their target price on Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 14th. Finally, Credit Suisse Group boosted their price objective on Phillips 66 to $122.00 in a research note 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 stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $107.79.

Phillips 66 Trading Down 1.4 %

Phillips 66 stock opened at $80.73 on Monday. Phillips 66 has a 52 week low of $63.19 and a 52 week high of $111.28. 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 firm has a market capitalization of $38.84 billion, a price-to-earnings ratio of 6.95, a P/E/G ratio of 0.41 and a beta of 1.39. The company has a 50 day moving average price of $86.73 and a 200 day moving average price of $88.30.

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

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Wednesday, August 17th. Phillips 66’s dividend payout ratio (DPR) is 33.42%.

Phillips 66 Profile

(Get Rating)

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.

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

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