J.W. Cole Advisors Inc. Boosts Stock Position in Phillips 66 (NYSE:PSX)

J.W. Cole Advisors Inc. grew its stake in shares of Phillips 66 (NYSE:PSXGet Rating) by 41.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,347 shares of the oil and gas company’s stock after acquiring an additional 2,454 shares during the period. J.W. Cole Advisors Inc.’s holdings in Phillips 66 were worth $721,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Dravo Bay LLC bought a new position in Phillips 66 in the first quarter valued at $26,000. First Community Trust NA lifted its holdings in Phillips 66 by 60.6% in the first quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock worth $29,000 after buying an additional 126 shares during the period. Accel Wealth Management increased its stake 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 valued at $31,000 after purchasing an additional 200 shares in the last quarter. Worth Asset Management LLC bought a new position in shares of Phillips 66 during the first quarter valued at approximately $32,000. Finally, Godsey & Gibb Associates bought a new position in shares of Phillips 66 during the fourth quarter valued at approximately $33,000. Institutional investors own 71.42% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $80.73 on Monday. Phillips 66 has a 1-year low of $63.19 and a 1-year high of $111.28. The stock has a market cap of $38.84 billion, a PE ratio of 6.95, a P/E/G ratio of 0.41 and a beta of 1.39. The firm has a 50-day simple moving average of $86.73 and a two-hundred day simple moving average of $88.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.02.

Phillips 66 (NYSE:PSXGet Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $5.92 by $0.85. The firm 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 quarterly revenue was up 76.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. As a group, analysts forecast that Phillips 66 will post 16.22 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were issued 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 was Wednesday, August 17th. Phillips 66’s dividend payout ratio (DPR) is currently 33.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PSX shares. StockNews.com downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 10th. Morgan Stanley lifted their target price on shares of Phillips 66 from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, July 15th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 14th. BMO Capital Markets initiated coverage on shares of Phillips 66 in a report on Monday, June 13th. They issued an “outperform” rating and a $132.00 target price on the stock. Finally, Barclays boosted their target price on shares of Phillips 66 from $95.00 to $113.00 and gave the stock an “overweight” rating in a report on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $107.79.

Phillips 66 Company 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.

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

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