PFG Investments LLC Purchases 301 Shares of Phillips 66 $PSX

PFG Investments LLC grew its position in Phillips 66 (NYSE:PSX) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,948 shares of the oil and gas company’s stock after acquiring an additional 301 shares during the period. PFG Investments LLC’s holdings in Phillips 66 were worth $1,903,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its position in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $29,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael A. Heim acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was bought at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the acquisition, the director directly owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated 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 $4,842,180. The trade was a 11.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 9,850 shares of company stock worth $1,188,910 and have sold 13,179 shares worth $1,779,165. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Citigroup cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their target price for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Jefferies Financial Group upped their target price on shares of Phillips 66 from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, September 15th. Barclays upped their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Finally, Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their target price for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.44.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $134.68 on Thursday. The company has a fifty day moving average price of $128.50 and a 200 day moving average price of $120.42. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a market cap of $54.43 billion, a PE ratio of 32.37, a PEG ratio of 1.97 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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. The company had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter last year, the company earned $2.31 EPS. Research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a $1.20 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

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.