Sheaff Brock Investment Advisors LLC Purchases New Shares in Phillips 66 (NYSE:PSX)

Sheaff Brock Investment Advisors LLC bought a new stake in shares of Phillips 66 (NYSE:PSXGet Rating) in the first quarter, HoldingsChannel reports. The institutional investor bought 2,776 shares of the oil and gas company’s stock, valued at approximately $240,000.

Other institutional investors have also recently modified their holdings of the company. Evolution Advisers Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at $28,000. First Community Trust NA lifted its position in shares of Phillips 66 by 60.6% during the 1st quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 126 shares during the period. Curi Wealth Management LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at $31,000. Accel Wealth Management lifted its position in shares of Phillips 66 by 127.4% during the 1st quarter. Accel Wealth Management now owns 357 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 200 shares during the period. Finally, Norwood Financial Corp bought a new stake in shares of Phillips 66 during the 4th quarter valued at $33,000. 64.28% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In related news, EVP Robert A. Herman sold 47,200 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $102.82, for a total transaction of $4,853,104.00. Following the sale, the executive vice president now owns 64,106 shares in the company, valued at approximately $6,591,378.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Paula Ann Johnson sold 44,700 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $108.91, for a total transaction of $4,868,277.00. Following the sale, the vice president now owns 102,489 shares in the company, valued at approximately $11,162,076.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert A. Herman sold 47,200 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $102.82, for a total value of $4,853,104.00. Following the sale, the executive vice president now owns 64,106 shares in the company, valued at approximately $6,591,378.92. The disclosure for this sale can be found here. Insiders have sold a total of 297,700 shares of company stock worth $32,327,782 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.

Phillips 66 Trading Up 1.3 %

NYSE PSX opened at $83.76 on Friday. The business’s 50-day moving average price is $90.45 and its two-hundred day moving average price is $87.93. Phillips 66 has a 12 month low of $63.19 and a 12 month high of $111.28. The firm has a market capitalization of $40.29 billion, a PE ratio of 7.21, a price-to-earnings-growth ratio of 0.46 and a beta of 1.41. The company has a current ratio of 1.28, a quick ratio of 0.87 and a debt-to-equity ratio of 0.51.

Phillips 66 (NYSE:PSXGet Rating) last released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $5.92 by $0.85. Phillips 66 had a return on equity of 29.60% and a net margin of 3.59%. The firm had revenue of $49.31 billion for the quarter, compared to analyst estimates of $40.93 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The business’s revenue was up 76.8% on a year-over-year basis. On average, analysts expect that Phillips 66 will post 16.15 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be given a $0.97 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.63%. Phillips 66’s dividend payout ratio (DPR) is presently 33.42%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley upped their target price on Phillips 66 from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, July 15th. The Goldman Sachs Group reissued a “buy” rating and set a $109.00 price target on shares of Phillips 66 in a report on Friday, July 1st. Piper Sandler boosted their price target on Phillips 66 from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, May 23rd. BMO Capital Markets began coverage on Phillips 66 in a report on Monday, June 13th. They set an “outperform” rating and a $132.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a report on Tuesday, June 14th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $108.29.

Phillips 66 Company Profile

(Get Rating)

Phillips 66 operates as an energy manufacturing and logistics company. 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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