MONECO Advisors LLC Purchases 168 Shares of Phillips 66 (NYSE:PSX)

MONECO Advisors LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 2.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,512 shares of the oil and gas company’s stock after buying an additional 168 shares during the quarter. MONECO Advisors LLC’s holdings in Phillips 66 were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. Garrett Wealth Advisory Group LLC bought a new position in Phillips 66 in the 2nd quarter worth $873,000. Western Financial Corp CA raised its holdings in Phillips 66 by 5.5% in the 2nd quarter. Western Financial Corp CA now owns 5,791 shares of the oil and gas company’s stock worth $818,000 after purchasing an additional 304 shares in the last quarter. Hoylecohen LLC raised its holdings in Phillips 66 by 8.1% in the 2nd quarter. Hoylecohen LLC now owns 2,254 shares of the oil and gas company’s stock worth $318,000 after purchasing an additional 168 shares in the last quarter. Oakworth Capital Inc. raised its holdings in Phillips 66 by 52.8% in the 2nd quarter. Oakworth Capital Inc. now owns 1,216 shares of the oil and gas company’s stock worth $172,000 after purchasing an additional 420 shares in the last quarter. Finally, Accordant Advisory Group Inc raised its holdings in Phillips 66 by 17.7% in the 2nd quarter. Accordant Advisory Group Inc now owns 7,800 shares of the oil and gas company’s stock worth $1,101,000 after purchasing an additional 1,173 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 0.7 %

PSX stock traded up $0.93 during trading on Monday, hitting $139.85. 394,008 shares of the stock traded hands, compared to its average volume of 2,634,926. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The firm’s 50 day moving average is $138.18 and its two-hundred day moving average is $145.96. The stock has a market cap of $59.29 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 2.41 and a beta of 1.34. 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 announced its quarterly earnings data 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. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the prior year, the firm posted $3.87 EPS. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that Phillips 66 will post 9.53 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s payout ratio is presently 35.38%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSX. Mizuho decreased their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Raymond James increased their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Barclays increased their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Wolfe Research initiated coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.38.

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.