Retirement Investment Advisors Inc. Buys Shares of 6,687 Phillips 66 (NYSE:PSX)

Retirement Investment Advisors Inc. acquired a new stake in Phillips 66 (NYSE:PSX) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,687 shares of the oil and gas company’s stock, valued at approximately $944,000. Phillips 66 accounts for 0.1% of Retirement Investment Advisors Inc.’s portfolio, making the stock its 29th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter worth $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the 1st quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new position in Phillips 66 during the 2nd quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the fourth quarter valued at about $27,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter worth about $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 1.7 %

Shares of PSX opened at $132.56 on Friday. The firm has a market cap of $55.49 billion, a P/E ratio of 10.20, a P/E/G ratio of 4.53 and a beta of 1.33. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The stock has a 50 day simple moving average of $135.37 and a two-hundred day simple moving average of $143.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.87 EPS. On average, analysts forecast that Phillips 66 will post 9.25 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 3rd. Stockholders of record on Tuesday, August 20th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PSX. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Argus reaffirmed a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Mizuho dropped their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday. Morgan Stanley reduced their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.29.

About Phillips 66

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.