Ausdal Financial Partners Inc. Makes New $1.37 Million Investment in Phillips 66 $PSX

Key Points

• Ausdal Financial Partners initiated a $1.37 million position in Phillips 66 during the second quarter by purchasing 8,120 shares. Institutional investors collectively own approximately 76.9% of PSX.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $206.56. Phillips 66 recently exceeded quarterly earnings and revenue expectations.
• Phillips 66 announced a quarterly dividend of $1.27 per share, representing a 2.1% yield, and authorized a $10 billion share-repurchase program covering up to 11.8% of outstanding shares.

Ausdal Financial Partners Inc. bought a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 8,120 shares of the oil and gas company's stock, valued at approximately $1,373,000.

A number of other large investors also recently made changes to their positions in PSX. NFSG Corp grew its stake in shares of Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC bought a new stake in Phillips 66 in the first quarter valued at about $27,000. SWAN Capital LLC lifted its stake in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock valued at $27,000 after buying an additional 190 shares during the period. Compass Financial Management LLC bought a new position in Phillips 66 during the second quarter worth about $28,000. Finally, Kelleher Financial Advisors bought a new position in Phillips 66 during the second quarter worth about $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on PSX shares. BMO Capital Markets upped their price target on Phillips 66 from $195.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $201.00 to $239.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Argus boosted their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Jefferies Financial Group upped their target price on shares of Phillips 66 from $191.00 to $207.00 and gave the company a "hold" rating in a research note on Thursday, July 9th. Finally, Tudor Pickering upgraded shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $206.56.

Insider Activity at Phillips 66

In other news, EVP Richard G. Harbison sold 52,100 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. The trade was a 57.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the company's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares of the company's stock, valued at $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 100,507 shares of company stock valued at $21,770,810. Insiders own 0.40% of the company's stock.

Phillips 66 Price Performance

Shares of PSX opened at $242.27 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The stock has a 50 day simple moving average of $203.06 and a 200 day simple moving average of $181.56. Phillips 66 has a 52-week low of $126.74 and a 52-week high of $246.95. The firm has a market capitalization of $96.67 billion, a PE ratio of 13.80, a P/E/G ratio of 0.18 and a beta of 0.68.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping the consensus estimate of $7.50 by $1.91. The firm had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period last year, the company posted $2.38 EPS. Sell-side analysts predict that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.1%. Phillips 66's dividend payout ratio is currently 28.95%.

Phillips 66 declared that its board has authorized a share repurchase program on Friday, July 31st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

About Phillips 66

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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