Sheaff Brock Investment Advisors LLC Grows Holdings in Phillips 66 (NYSE:PSX)

Sheaff Brock Investment Advisors LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,700 shares of the oil and gas company’s stock after purchasing an additional 680 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Phillips 66 were worth $448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. Bornite Capital Management LP purchased a new position in Phillips 66 during the 1st quarter worth $8,639,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Phillips 66 by 316.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after purchasing an additional 5,012 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Phillips 66 by 5.1% in the 1st quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after purchasing an additional 788 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Phillips 66 by 61.9% in the 1st quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after purchasing an additional 2,766 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Phillips 66 by 103.8% in the 1st quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock valued at $4,625,000 after purchasing an additional 27,267 shares in the last quarter. Hedge funds and other institutional investors own 71.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PSX shares. Tudor, Pickering, Holt & Co. upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and increased their price target for the company from $115.00 to $130.00 in a report on Monday, October 30th. Bank of America increased their price target on shares of Phillips 66 from $141.00 to $143.00 and gave the company a “neutral” rating in a report on Monday, September 18th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $146.00 price objective on the stock in a research note on Tuesday, October 31st. Morgan Stanley reissued an “equal weight” rating and issued a $125.00 price objective on shares of Phillips 66 in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company increased their price objective on shares of Phillips 66 from $130.00 to $144.00 and gave the company an “overweight” rating in a research note on Friday, September 8th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.33.

Phillips 66 Price Performance

Phillips 66 stock opened at $113.44 on Friday. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $125.19. The firm has a 50 day moving average price of $116.06 and a 200 day moving average price of $106.60. The company has a market cap of $49.91 billion, a price-to-earnings ratio of 6.84, a PEG ratio of 0.39 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.90 and a current ratio of 1.29.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, October 27th. The oil and gas company reported $4.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.78 by ($0.15). Phillips 66 had a net margin of 5.05% and a return on equity of 23.32%. During the same quarter in the previous year, the company earned $6.46 earnings per share. Sell-side analysts predict that Phillips 66 will post 15.32 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.20 dividend on an annualized basis and a yield of 3.70%. Phillips 66’s payout ratio is 25.33%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 12,970 shares of Phillips 66 stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $124.41, for a total transaction of $1,613,597.70. Following the transaction, the executive vice president now directly owns 80,009 shares of the company’s stock, valued at $9,953,919.69. The sale was disclosed in a filing with the SEC, which is available at this link. In other Phillips 66 news, EVP Timothy D. Roberts sold 12,970 shares of Phillips 66 stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $124.41, for a total transaction of $1,613,597.70. Following the transaction, the executive vice president now directly owns 80,009 shares of the company’s stock, valued at $9,953,919.69. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 30,800 shares of Phillips 66 stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $120.97, for a total transaction of $3,725,876.00. Following the transaction, the chief financial officer now directly owns 103,803 shares in the company, valued at $12,557,048.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,770 shares of company stock worth $6,158,614. 4.57% of the stock is owned by company insiders.

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.