BKM Wealth Management LLC Purchases 568 Shares of Phillips 66 (NYSE:PSX)

BKM Wealth Management LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,064 shares of the oil and gas company’s stock after acquiring an additional 568 shares during the quarter. Phillips 66 accounts for approximately 1.1% of BKM Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding. BKM Wealth Management LLC’s holdings in Phillips 66 were worth $2,624,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSX. Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 during the fourth quarter worth $27,000. First United Bank & Trust bought a new stake in shares of Phillips 66 during the 4th quarter worth about $31,000. Rise Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $40,000. Signature Resources Capital Management LLC acquired a new position in Phillips 66 in the 4th quarter valued at about $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in Phillips 66 in the 4th quarter valued at about $36,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PSX shares. Raymond James reduced their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Mizuho decreased their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Bank of America lifted their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Piper Sandler dropped their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Price Performance

Shares of PSX stock traded up $0.04 during trading hours on Monday, reaching $141.21. The company’s stock had a trading volume of 395,034 shares, compared to its average volume of 2,775,609. Phillips 66 has a fifty-two week low of $94.51 and a fifty-two week high of $174.08. The firm’s 50 day simple moving average is $142.91 and its 200-day simple moving average is $144.83. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $59.87 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period last year, the business earned $4.21 earnings per share. Sell-side analysts forecast that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.26%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

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.