Drucker Wealth 3.0 LLC Invests $427,000 in Phillips 66 $PSX

Key Points

• Drucker Wealth 3.0 LLC has invested approximately $427,000 to acquire 3,274 shares of Phillips 66 during the second quarter of the year.
• Phillips 66 recently reported a quarterly earnings per share of $2.38, exceeding the consensus estimate of $1.79 and achieving revenue of $33.77 billion.
• The company will issue a quarterly dividend of $1.20 per share on December 1st, projecting a 3.8% annual dividend yield.

Drucker Wealth 3.0 LLC purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,274 shares of the oil and gas company's stock, valued at approximately $427,000.

Several other institutional investors have also modified their holdings of PSX. Elliott Investment Management L.P. grew its position in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares during the last quarter. Valeo Financial Advisors LLC grew its position in shares of Phillips 66 by 9,530.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company's stock worth $172,564,000 after acquiring an additional 1,431,450 shares during the last quarter. Nuveen LLC bought a new position in shares of Phillips 66 during the first quarter worth about $156,482,000. Price T Rowe Associates Inc. MD grew its position in shares of Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock worth $828,442,000 after acquiring an additional 682,459 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock worth $588,489,000 after acquiring an additional 653,248 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $127.01 on Friday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $129.51 and a 200-day moving average of $120.59. The firm has a market cap of $51.33 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data 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 net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter last year, the firm posted $2.31 EPS. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.8%. Phillips 66's dividend payout ratio (DPR) is 115.38%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PSX. Zacks Research upgraded shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 26th. TD Cowen increased their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Mizuho increased their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. Jefferies Financial Group increased their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the company a "hold" rating in a research report on Friday. Finally, Raymond James Financial increased their target price on shares of Phillips 66 from $142.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.75.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Sigmund L. Cornelius acquired 500 shares of Phillips 66 stock in a transaction dated Thursday, July 31st. The stock was bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction on Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 9,850 shares of company stock worth $1,188,910. Company insiders own 0.22% of the company's stock.

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.

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