Fiducient Advisors LLC Acquires New Position in Phillips 66 $PSX

Fiducient Advisors LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 2,000 shares of the oil and gas company’s stock, valued at approximately $239,000.

Several other hedge funds also recently made changes to their positions in PSX. Wolff Wiese Magana LLC raised 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 in the last quarter. Pinpoint Asset Management Ltd acquired a new stake in shares of Phillips 66 during the first quarter worth $29,000. Webster Bank N. A. raised its holdings in shares of Phillips 66 by 58.8% during the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 100 shares during the period. Nova Wealth Management Inc. bought a new position in shares of Phillips 66 in the 1st quarter worth about $37,000. Finally, GKV Capital Management Co. Inc. boosted its holdings in shares of Phillips 66 by 111.5% in the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 174 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PSX shares. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. BMO Capital Markets upped their target price on Phillips 66 from $152.00 to $160.00 in a report on Tuesday, November 11th. Argus raised Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Barclays boosted their price objective on Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $145.71.

Phillips 66 Stock Performance

Shares of PSX stock opened at $133.78 on Monday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $143.25. The firm has a market capitalization of $53.90 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The business has a 50 day simple moving average of $134.33 and a 200 day simple moving average of $127.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the previous year, the business earned $2.04 EPS. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 64,986 shares of company stock valued at $8,955,291 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

About Phillips 66

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.