Clearwater Capital Advisors LLC Buys New Shares in Phillips 66 (NYSE:PSX)

Key Points

• Clearwater Capital Advisors LLC acquired a new position in Phillips 66 by purchasing 22,097 shares, valued at approximately $2,729,000.
• Phillips 66 reported earnings of $2.38 per share for the last quarter, exceeding estimates by $0.59, with total revenue of $33.77 billion.
• The company declared a $1.20 quarterly dividend, translating to an annualized yield of 4.0% and a payout ratio of 115.38%.

Clearwater Capital Advisors LLC purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 22,097 shares of the oil and gas company's stock, valued at approximately $2,729,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacific Center for Financial Services bought a new position in Phillips 66 during the 4th quarter worth approximately $27,000. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 during the 1st quarter worth approximately $27,000. Olde Wealth Management LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at about $28,000. Wood Tarver Financial Group LLC bought a new position in Phillips 66 during the fourth quarter worth $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at $29,000. Institutional investors own 76.93% of the company's stock.

Insider Buying and Selling

In other news, Director Sigmund L. Cornelius bought 500 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the purchase, the director owned 21,543 shares of the company's stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert W. Pease acquired 439 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,939 shares of company stock valued at $237,725 in the last quarter. Corporate insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a report on Wednesday, June 18th. Wells Fargo & Company lowered their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Mizuho raised their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $136.20.

Phillips 66 Stock Performance

Shares of PSX traded up $1.86 during mid-day trading on Monday, reaching $121.46. The company had a trading volume of 2,102,205 shares, compared to its average volume of 2,762,663. The stock has a market capitalization of $49.08 billion, a P/E ratio of 29.20, a PEG ratio of 1.63 and a beta of 1.09. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average of $122.41 and a two-hundred day moving average of $118.89. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $140.85.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the firm earned $2.31 earnings per share. On average, analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.0%. Phillips 66's dividend payout ratio (DPR) is 115.38%.

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.