Ignite Planners LLC Makes New Investment in Phillips 66 $PSX

Ignite Planners LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,895 shares of the oil and gas company’s stock, valued at approximately $239,000.

Several other institutional investors have also recently made changes to their positions in PSX. Brighton Jones LLC increased its holdings in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the period. Capital Investment Advisors LLC increased its holdings in shares of Phillips 66 by 4.1% in the first quarter. Capital Investment Advisors LLC now owns 4,314 shares of the oil and gas company’s stock worth $533,000 after purchasing an additional 169 shares during the period. Portside Wealth Group LLC increased its holdings in shares of Phillips 66 by 7.5% in the first quarter. Portside Wealth Group LLC now owns 1,910 shares of the oil and gas company’s stock worth $236,000 after purchasing an additional 133 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Phillips 66 by 65.6% in the first quarter. Farther Finance Advisors LLC now owns 13,558 shares of the oil and gas company’s stock worth $1,686,000 after purchasing an additional 5,372 shares during the period. Finally, Pallas Capital Advisors LLC increased its stake in Phillips 66 by 63.2% in the first quarter. Pallas Capital Advisors LLC now owns 3,666 shares of the oil and gas company’s stock valued at $453,000 after acquiring an additional 1,419 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $131.31 on Thursday. 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 capitalization of $53.07 billion, a P/E ratio of 31.56, a PEG ratio of 1.93 and a beta of 1.11. The stock’s 50 day moving average is $129.21 and its 200 day moving average is $120.58. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $32.11 billion. During the same quarter last year, the firm earned $2.31 earnings per share. On average, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s payout ratio is 115.38%.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value 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 approximately $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sigmund L. Cornelius bought 500 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, with a total value of $61,775.00. Following the acquisition, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSX. Evercore ISI boosted their target price on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Barclays upped their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a research note on Tuesday. Scotiabank reaffirmed a “sector perform” rating and set a $133.00 target price on shares of Phillips 66 in a report on Friday, July 11th. Wells Fargo & Company reduced their price objective on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Finally, Mizuho lifted their price objective on Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.50.

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.