Consolidated Planning Corp Has $1.26 Million Position in Phillips 66 $PSX

Consolidated Planning Corp lowered its position in Phillips 66 (NYSE:PSX) by 9.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,529 shares of the oil and gas company’s stock after selling 1,092 shares during the quarter. Consolidated Planning Corp’s holdings in Phillips 66 were worth $1,256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WealthTrust Axiom LLC boosted its position in shares of Phillips 66 by 1.1% during the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after acquiring an additional 81 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. Magnus Financial Group LLC boosted its position in shares of Phillips 66 by 2.8% during the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after acquiring an additional 84 shares during the last quarter. Biltmore Wealth Management LLC boosted its position in shares of Phillips 66 by 2.4% during the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after acquiring an additional 85 shares during the last quarter. Finally, XML Financial LLC boosted its position in shares of Phillips 66 by 0.5% during the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.0%

Shares of NYSE PSX opened at $134.68 on Thursday. The firm’s fifty day moving average is $128.50 and its 200 day moving average is $120.42. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market cap of $54.43 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 1.97 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the prior year, the business posted $2.31 EPS. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio is currently 115.38%.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sigmund L. Cornelius bought 500 shares of Phillips 66 stock in a transaction dated Thursday, July 31st. The shares were acquired at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 9,850 shares of company stock valued at $1,188,910 and have sold 13,179 shares valued at $1,779,165. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PSX shares. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Argus upgraded Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Barclays boosted their target price on Phillips 66 from $115.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a research report on Wednesday, June 18th. Finally, Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.44.

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.