Phillips 66 $PSX Stake Boosted by Savvy Advisors Inc.

Savvy Advisors Inc. grew its stake in shares of Phillips 66 (NYSE:PSX) by 25.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,598 shares of the oil and gas company’s stock after purchasing an additional 925 shares during the quarter. Savvy Advisors Inc.’s holdings in Phillips 66 were worth $549,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after buying an additional 7,214 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Phillips 66 by 14.4% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company’s stock worth $95,000 after buying an additional 97 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Phillips 66 by 1.0% during the first quarter. DAVENPORT & Co LLC now owns 24,039 shares of the oil and gas company’s stock worth $2,968,000 after buying an additional 246 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Phillips 66 by 18.9% during the first quarter. First Horizon Advisors Inc. now owns 3,535 shares of the oil and gas company’s stock worth $437,000 after buying an additional 561 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Phillips 66 by 1.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 35,849 shares of the oil and gas company’s stock worth $4,427,000 after buying an additional 420 shares during the period. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Barclays boosted their price objective on Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Argus upgraded Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Wells Fargo & Company boosted their price objective on Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Evercore ISI boosted their target price on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $142.94.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $136.23 on Friday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The stock has a market cap of $55.05 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 1.81 and a beta of 1.11. The stock’s 50 day moving average price is $132.67 and its 200 day moving average price is $123.27. 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 EPS for the quarter, topping 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 analysts’ expectations of $32.29 billion. During the same quarter in the previous year, the company earned $2.04 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. Phillips 66’s dividend payout ratio is currently 115.38%.

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.