Segment Wealth Management LLC Purchases 222 Shares of Phillips 66 $PSX

Segment Wealth Management LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,922 shares of the oil and gas company’s stock after purchasing an additional 222 shares during the quarter. Segment Wealth Management LLC’s holdings in Phillips 66 were worth $1,661,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in Phillips 66 by 238.5% in the 4th 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 in the last quarter. NBC Securities Inc. raised its holdings in shares of Phillips 66 by 155,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,558 shares of the oil and gas company’s stock worth $192,000 after acquiring an additional 1,557 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Phillips 66 by 23.4% during the 1st quarter. Merit Financial Group LLC now owns 10,331 shares of the oil and gas company’s stock worth $1,276,000 after acquiring an additional 1,959 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Phillips 66 by 3.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 13,182 shares of the oil and gas company’s stock valued at $1,628,000 after buying an additional 399 shares during the period. Finally, Apella Capital LLC purchased a new stake in Phillips 66 during the 1st quarter valued at $245,000. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions at Phillips 66

In other news, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction on Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director directly owned 21,543 shares of the company’s stock, valued at $2,661,637.65. The trade was a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 9,850 shares of company stock valued at $1,188,910 and sold 13,179 shares valued at $1,779,165. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PSX shares. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research report on Wednesday, June 18th. Jefferies Financial Group raised their price objective on Phillips 66 from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, September 15th. Morgan Stanley raised their price target on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday. Evercore ISI raised their price objective on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.19.

Phillips 66 Stock Down 1.3%

Phillips 66 stock opened at $133.14 on Friday. The stock has a market capitalization of $53.80 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The business has a 50 day simple moving average of $128.89 and a 200-day simple moving average of $120.49. 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 quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The business 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 period in the previous year, the business earned $2.31 earnings per share. On average, analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s payout ratio is currently 115.38%.

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.