RM Financial Services LLC Acquires New Stake in Phillips 66 $PSX

RM Financial Services LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,335 shares of the oil and gas company’s stock, valued at approximately $430,000.

A number of other large investors also recently bought and sold shares of the company. CYBER HORNET ETFs LLC boosted its holdings in shares of Phillips 66 by 5.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after acquiring an additional 66 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after acquiring an additional 72 shares during the period. L2 Asset Management LLC raised its holdings in Phillips 66 by 4.0% during the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 72 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in Phillips 66 by 0.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after purchasing an additional 73 shares in the last quarter. Finally, KCM Investment Advisors LLC lifted its position in Phillips 66 by 1.6% in the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $181.78 on Thursday. The firm has a 50 day moving average of $172.49 and a 200-day moving average of $157.28. The company has a market cap of $72.88 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 0.26 and a beta of 0.68. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12-month low of $118.00 and a 12-month high of $190.61.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the prior year, the firm posted ($0.90) EPS. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s dividend payout ratio is 50.05%.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,553,920. The trade was a 23.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 49,429 shares of company stock worth $8,734,146 over the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSX. Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Argus raised their price target on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Piper Sandler lifted their price target on Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group increased their price objective on Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $191.44.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.