BXM Wealth LLC Takes $282,000 Position in Phillips 66 (NYSE:PSX)

BXM Wealth LLC bought a new position in Phillips 66 (NYSE:PSX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,280 shares of the oil and gas company's stock, valued at approximately $282,000.

A number of other institutional investors and hedge funds have also modified their holdings of PSX. Pacific Center for Financial Services bought a new stake in shares of Phillips 66 in the 4th quarter worth $27,000. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 in the 1st quarter worth $27,000. Graney & King LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth $28,000. Olde Wealth Management LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth $28,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth $29,000. Institutional investors own 76.93% of the company's stock.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on PSX shares. Mizuho lifted their target price on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Morgan Stanley dropped their price target on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. UBS Group dropped their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, Scotiabank restated a "sector perform" rating and issued a $133.00 price target on shares of Phillips 66 in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and a consensus price target of $135.07.

Phillips 66 Stock Performance

NYSE PSX traded down $2.73 on Friday, hitting $131.66. 1,679,501 shares of the company traded hands, compared to its average volume of 3,119,398. The company has a market capitalization of $53.64 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 2.12 and a beta of 1.02. 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 business's 50 day moving average price is $119.47 and its 200-day moving average price is $117.73. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last released 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). The company had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter last year, the firm posted $1.90 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be given a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.65%. Phillips 66's payout ratio is 109.34%.

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.