Richwood Investment Advisors LLC Has $514,000 Stake in Phillips 66 $PSX

Richwood Investment Advisors LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,310 shares of the oil and gas company’s stock after selling 115 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Phillips 66 were worth $514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Elliott Investment Management L.P. grew its stake in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Phillips 66 by 9,530.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after acquiring an additional 1,431,450 shares during the period. Nuveen LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $156,482,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after buying an additional 682,459 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after acquiring an additional 653,248 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 0.0%

PSX opened at $132.97 on Tuesday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35. The firm has a market capitalization of $53.74 billion, a P/E ratio of 31.96, a PEG ratio of 1.91 and a beta of 1.11. The company’s 50-day moving average is $128.99 and its 200 day moving average is $120.43. 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 posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the firm earned $2.31 EPS. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given 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 of this dividend was Tuesday, August 19th. Phillips 66’s dividend payout ratio is currently 115.38%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PSX shares. Scotiabank reaffirmed a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. UBS Group boosted their price objective on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and increased their price target for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Finally, Cantor Fitzgerald began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $140.19.

Insider Activity at Phillips 66

In other news, Director Sigmund L. Cornelius acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the purchase, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by company insiders.

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.