Phillips 66 (NYSE:PSX) Holdings Lifted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 40.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,296 shares of the oil and gas company’s stock after acquiring an additional 8,110 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Phillips 66 were worth $3,720,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sunbelt Securities Inc. boosted its stake in shares of Phillips 66 by 87.4% during the 1st quarter. Sunbelt Securities Inc. now owns 2,983 shares of the oil and gas company’s stock worth $487,000 after acquiring an additional 1,391 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Phillips 66 by 6.7% during the first quarter. Brookstone Capital Management now owns 23,076 shares of the oil and gas company’s stock valued at $3,769,000 after acquiring an additional 1,450 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $82,000. Sovereign Financial Group Inc. boosted its stake in Phillips 66 by 9.1% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,856 shares of the oil and gas company’s stock worth $303,000 after purchasing an additional 155 shares during the period. Finally, Key Client Fiduciary Advisors LLC purchased a new position in Phillips 66 during the 1st quarter worth approximately $293,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $129.12 on Thursday. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a fifty day simple moving average of $132.85 and a 200 day simple moving average of $139.57. 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 company has a market cap of $54.74 billion, a P/E ratio of 9.93, a P/E/G ratio of 5.68 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.87 earnings per share. On average, sell-side analysts predict that Phillips 66 will post 7.81 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley decreased 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, September 16th. Barclays dropped their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Raymond James lifted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

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.