Advisor Resource Council Purchases New Holdings in Phillips 66 (NYSE:PSX)

Advisor Resource Council bought a new stake in Phillips 66 (NYSE:PSX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,121 shares of the oil and gas company's stock, valued at approximately $509,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Forum Financial Management LP boosted its holdings in Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock valued at $853,000 after purchasing an additional 77 shares during the period. NewEdge Wealth LLC boosted its holdings in Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after purchasing an additional 81 shares during the period. JBR Co Financial Management Inc boosted its holdings in Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after purchasing an additional 85 shares during the period. Nwam LLC boosted its holdings in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock valued at $442,000 after purchasing an additional 85 shares during the period. Finally, PFG Private Wealth Management LLC boosted its holdings in Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after purchasing an additional 88 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley decreased their target price on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a report on Wednesday, June 18th. Cantor Fitzgerald began coverage on Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating for the company. Mizuho lifted their price target on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and a consensus price target of $133.93.

Insider Activity

In related news, Director Robert W. Pease purchased 439 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director now directly owns 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president now owns 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded down $3.63 on Monday, hitting $121.15. The stock had a trading volume of 4,497,172 shares, compared to its average volume of 3,081,171. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $49.36 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 1.94 and a beta of 1.02. The company's 50 day moving average price is $112.91 and its 200 day moving average price is $117.00.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. On average, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.20 dividend. This is an increase from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend was Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

Phillips 66 Company 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.