Ashton Thomas Private Wealth LLC Buys 3,296 Shares of Phillips 66 $PSX

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Phillips 66 by 10.3% during the first quarter, now holding 35,186 shares valued at approximately $4.35 million.
• Phillips 66 recently declared a quarterly dividend of $1.20 per share, representing an annual yield of 3.7%, though the dividend payout ratio is at 115.38%.
• Analysts have mixed ratings for Phillips 66, with ratings ranging from a "Strong Buy" to "Hold," and a consensus target price set at $135.60.

Ashton Thomas Private Wealth LLC lifted its stake in Phillips 66 (NYSE:PSX - Free Report) by 10.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,186 shares of the oil and gas company's stock after buying an additional 3,296 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Phillips 66 were worth $4,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Forum Financial Management LP raised its stake in Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after acquiring an additional 77 shares during the period. WealthTrust Axiom LLC increased its stake in shares of Phillips 66 by 1.1% in the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company's stock worth $894,000 after purchasing an additional 81 shares in the last quarter. CWC Advisors LLC. increased its stake in shares of Phillips 66 by 1.0% in the fourth quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after purchasing an additional 92 shares in the last quarter. Hager Investment Management Services LLC raised its position in shares of Phillips 66 by 7.2% during the 1st quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock valued at $178,000 after purchasing an additional 96 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of Phillips 66 by 14.4% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock valued at $95,000 after buying an additional 97 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the firm'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 sale, the executive vice president owned 56,838 shares of the company's stock, valued at $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sigmund L. Cornelius bought 500 shares of the company's stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director directly owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 9,850 shares of company stock worth $1,188,910 over the last three months. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PSX has been the topic of a number of recent analyst reports. Bank of America cut Phillips 66 from a "buy" rating to a "neutral" rating and raised their price target for the company from $144.00 to $147.00 in a report on Wednesday, September 3rd. JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a research note on Wednesday, June 18th. Compass Point started coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating on the stock. Barclays increased their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and upped their target price for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $135.60.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $130.14 on Tuesday. The firm has a fifty day simple moving average of $126.47 and a two-hundred day simple moving average of $119.35. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.60. 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 market capitalization of $52.59 billion, a P/E ratio of 31.28, a PEG ratio of 2.05 and a beta of 1.15.

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

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, August 19th. Phillips 66's dividend payout ratio is presently 115.38%.

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.

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