Azzad Asset Management Inc. ADV Boosts Stock Position in Phillips 66 (NYSE:PSX)

Azzad Asset Management Inc. ADV increased its stake in shares of Phillips 66 (NYSE:PSX) by 8.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,600 shares of the oil and gas company’s stock after buying an additional 1,654 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Phillips 66 were worth $2,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Madison Park Capital Advisors LLC raised its position in Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 68 shares during the period. MV Capital Management Inc. boosted its stake in Phillips 66 by 9.6% during the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after buying an additional 73 shares during the period. Mitchell & Pahl Private Wealth LLC increased its position in shares of Phillips 66 by 0.4% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after acquiring an additional 74 shares during the last quarter. Catalyst Financial Partners LLC raised its stake in shares of Phillips 66 by 5.1% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after acquiring an additional 74 shares during the period. Finally, Claro Advisors LLC lifted its holdings in shares of Phillips 66 by 4.5% in the 1st quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several research reports. Scotiabank cut their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Mizuho dropped their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Morgan Stanley reduced their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $152.71.

Phillips 66 Stock Down 0.1 %

PSX stock opened at $138.54 on Tuesday. The company’s 50 day moving average is $133.83 and its two-hundred day moving average is $142.17. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $58.73 billion, a P/E ratio of 10.66, a PEG ratio of 5.46 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the previous year, the company earned $3.87 earnings per share. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts expect that Phillips 66 will post 8.21 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

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.