Burney Co. Purchases 292 Shares of Phillips 66 (NYSE:PSX)

Burney Co. lifted its stake in Phillips 66 (NYSE:PSX) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,514 shares of the oil and gas company’s stock after purchasing an additional 292 shares during the period. Burney Co.’s holdings in Phillips 66 were worth $2,052,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC increased its holdings in Phillips 66 by 3.5% during the 2nd quarter. Lindbrook Capital LLC now owns 2,724 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 91 shares during the period. Jennison Associates LLC increased its stake in shares of Phillips 66 by 3.7% during the second quarter. Jennison Associates LLC now owns 2,718 shares of the oil and gas company’s stock valued at $259,000 after buying an additional 96 shares during the period. Chiron Capital Management LLC raised its holdings in shares of Phillips 66 by 4.8% in the second quarter. Chiron Capital Management LLC now owns 2,189 shares of the oil and gas company’s stock valued at $209,000 after acquiring an additional 100 shares in the last quarter. BDO Wealth Advisors LLC raised its holdings in shares of Phillips 66 by 10.1% in the 2nd quarter. BDO Wealth Advisors LLC now owns 1,100 shares of the oil and gas company’s stock valued at $105,000 after purchasing an additional 101 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Phillips 66 by 1.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,317 shares of the oil and gas company’s stock valued at $698,000 after acquiring an additional 103 shares during the period. 71.83% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of PSX opened at $115.44 on Thursday. The company has a market capitalization of $50.79 billion, a P/E ratio of 6.96, a P/E/G ratio of 0.40 and a beta of 1.34. The business’s 50-day moving average is $115.94 and its two-hundred day moving average is $106.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.96 and a current ratio of 1.29. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $125.19.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $4.63 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $6.46 EPS. Research analysts predict that Phillips 66 will post 15.32 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is presently 25.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PSX shares. Tudor, Pickering, Holt & Co. raised Phillips 66 from a “hold” rating to a “buy” rating and raised their price objective for the company from $115.00 to $130.00 in a research report on Monday, October 30th. Raymond James reduced their price objective on shares of Phillips 66 from $133.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, October 6th. Piper Sandler lowered their target price on shares of Phillips 66 from $138.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday, October 5th. Bank of America upped their price target on Phillips 66 from $141.00 to $143.00 and gave the stock a “neutral” rating in a research report on Monday, September 18th. Finally, Wells Fargo & Company raised their price objective on Phillips 66 from $130.00 to $144.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Four 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, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $132.50.

Insider Buying and Selling

In other news, EVP Timothy D. Roberts sold 12,970 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $124.41, for a total value of $1,613,597.70. Following the completion of the sale, the executive vice president now directly owns 80,009 shares in the company, valued at $9,953,919.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Phillips 66 news, EVP Timothy D. Roberts sold 12,970 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $124.41, for a total transaction of $1,613,597.70. Following the completion of the transaction, the executive vice president now owns 80,009 shares of the company’s stock, valued at $9,953,919.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,000 shares of Phillips 66 stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $117.02, for a total value of $819,140.00. Following the completion of the sale, the vice president now directly owns 6,682 shares in the company, valued at $781,927.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,770 shares of company stock valued at $6,158,614. 4.57% of the stock is owned by company insiders.

Phillips 66 Company 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.