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Endeavor Private Wealth Inc. Increases Stake in Phillips 66 (NYSE:PSX)

Phillips 66 logo with Energy background

Key Points

  • Endeavor Private Wealth Inc. increased its stake in Phillips 66 by 486.7% in Q1, now owning 5,791 shares valued at approximately $715,000.
  • Phillips 66 recently announced a quarterly dividend of $1.20 per share, with a total annualized dividend yield of 4.0%.
  • Analyst price targets for Phillips 66 vary, with a consensus target of $136.13 and multiple ratings ranging from "hold" to "outperform."
  • Five stocks we like better than Phillips 66.

Endeavor Private Wealth Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 486.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,791 shares of the oil and gas company's stock after acquiring an additional 4,804 shares during the period. Endeavor Private Wealth Inc.'s holdings in Phillips 66 were worth $715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. Price T Rowe Associates Inc. MD raised its holdings in Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Northern Trust Corp grew its position in Phillips 66 by 10.6% in the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after acquiring an additional 440,107 shares in the last quarter. Invesco Ltd. raised its position in Phillips 66 by 9.2% in the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company's stock valued at $468,551,000 after purchasing an additional 347,905 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Phillips 66 by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,014,113 shares of the oil and gas company's stock valued at $457,257,000 after purchasing an additional 357,705 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Phillips 66 by 9.7% in the fourth quarter. Deutsche Bank AG now owns 2,579,365 shares of the oil and gas company's stock valued at $293,867,000 after purchasing an additional 227,095 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director directly owned 4,091 shares of the company's stock, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 1,939 shares of company stock valued at $237,725 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PSX shares. Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and boosted their target price for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Mizuho increased their price target on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. UBS Group lifted their target price on Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a report on Monday, July 28th. Compass Point started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a "buy" rating on the stock. Finally, Barclays upped their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Phillips 66 presently has a consensus rating of "Hold" and an average target price of $136.20.

Get Our Latest Research Report on Phillips 66

Phillips 66 Stock Performance

PSX stock traded up $1.86 during midday trading on Monday, hitting $121.46. The company's stock had a trading volume of 2,102,205 shares, compared to its average volume of 2,762,663. The stock has a market cap of $49.08 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.63 and a beta of 1.09. 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's 50-day moving average price is $122.41 and its 200 day moving average price is $118.89. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.85.

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

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 4.0%. Phillips 66's dividend payout ratio (DPR) is 115.38%.

Phillips 66 Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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