3,241 Shares in Phillips 66 (NYSE:PSX) Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC acquired a new position in shares of Phillips 66 (NYSE:PSXGet Rating) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,241 shares of the oil and gas company’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PSX. Dravo Bay LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $26,000. GoalVest Advisory LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at $28,000. First Community Trust NA increased its stake in Phillips 66 by 60.6% in the 1st 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 increased its stake in Phillips 66 by 127.4% in the 1st quarter. Accel Wealth Management now owns 357 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at $32,000. 71.42% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

NYSE PSX opened at $80.73 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $38.84 billion, a P/E ratio of 6.95, a P/E/G ratio of 0.41 and a beta of 1.39. Phillips 66 has a 12-month low of $63.19 and a 12-month high of $111.28. The firm has a 50-day moving average price of $86.73 and a two-hundred 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, beating the consensus estimate of $5.92 by $0.85. The company had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $40.93 billion. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The business’s revenue for the quarter was up 76.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. Analysts anticipate that Phillips 66 will post 16.22 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.81%. The ex-dividend date was Wednesday, August 17th. Phillips 66’s dividend payout ratio is presently 33.42%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PSX shares. Barclays lifted their price target on shares of Phillips 66 from $95.00 to $113.00 and gave the company an “overweight” rating in a research note on Wednesday, July 6th. Wolfe Research downgraded shares of Phillips 66 from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, September 14th. Piper Sandler decreased their price objective on shares of Phillips 66 from $120.00 to $113.00 and set an “overweight” rating for the company in a research report on Monday, September 12th. StockNews.com downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 10th. Finally, Morgan Stanley lifted their price objective on shares of Phillips 66 from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, July 15th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.79.

Phillips 66 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.

Further Reading

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

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