CW Advisors LLC Increases Stock Position in Phillips 66 $PSX

Key Points

• CW Advisors LLC has increased its stake in Phillips 66 by 29.6%, acquiring an additional 19,362 shares and bringing its total holdings to 84,805 shares valued at approximately $10.48 million.
• Phillips 66 announced a quarterly dividend of $1.20 per share, set to be paid on September 2nd, with a 3.9% yield based on an annualized amount of $4.80.
• The company's stock recently reported $2.38 earnings per share, surpassing analyst expectations, with revenue of $33.77 billion for the quarter.

CW Advisors LLC increased its stake in Phillips 66 (NYSE:PSX - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,805 shares of the oil and gas company's stock after purchasing an additional 19,362 shares during the period. CW Advisors LLC's holdings in Phillips 66 were worth $10,478,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PSX. Cary Street Partners Financial LLC bought a new position in shares of Phillips 66 in the 4th quarter worth $4,333,000. Wealth Enhancement Advisory Services LLC grew its position in Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock worth $19,625,000 after acquiring an additional 26,825 shares in the last quarter. Alta Advisers Ltd bought a new position in Phillips 66 in the first quarter valued at $253,000. Sustainable Insight Capital Management LLC purchased a new stake in Phillips 66 during the first quarter valued at about $1,457,000. Finally, Advisory Resource Group raised its position in Phillips 66 by 6.8% during the first quarter. Advisory Resource Group now owns 256,327 shares of the oil and gas company's stock valued at $31,651,000 after purchasing an additional 16,300 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Phillips 66 news, Director Gregory Hayes acquired 8,350 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the transaction, the director owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the firm's stock in a transaction that occurred 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 acquisition, the director owned 21,543 shares of the company's stock, valued at $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 9,850 shares of company stock worth $1,188,910. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSX. TD Cowen increased their price objective on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Citigroup cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and increased their price target for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a report on Wednesday, June 18th. Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Compass Point started coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.20.

Phillips 66 Trading Up 4.3%

Shares of NYSE:PSX traded up $5.3520 during trading on Friday, reaching $129.8020. 2,674,005 shares of the company traded hands, compared to its average volume of 2,179,068. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $140.85. The firm has a market capitalization of $52.46 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 1.76 and a beta of 1.09. The business's fifty day moving average is $124.31 and its 200-day moving average is $119.01.

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 the consensus estimate 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. As a group, analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

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.