EP Wealth Advisors LLC Purchases New Position in Phillips 66 $PSX

EP Wealth Advisors LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 22,857 shares of the oil and gas company's stock, valued at approximately $3,864,000.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. NFSG Corp increased 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 valued at $27,000 after buying an additional 75 shares during the period. Axiom Investment Management LLC purchased a new stake in Phillips 66 in the first quarter worth $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 worth $27,000 after acquiring an additional 190 shares during the period. Kelleher Financial Advisors bought a new stake in Phillips 66 in the second quarter valued at $29,000. Finally, J.Safra Asset Management Corp bought a new stake in Phillips 66 in the second quarter valued at $30,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of the business's stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following the sale, the executive vice president directly owned 27,537 shares of the company's stock, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $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. Insiders have sold a total of 100,507 shares of company stock worth $21,770,810 over the last three months. 0.40% of the stock is owned by corporate insiders.

Phillips 66 Stock Up 1.4%

NYSE:PSX opened at $243.34 on Friday. The firm's 50-day moving average price is $198.87 and its 200-day moving average price is $179.44. The company has a market capitalization of $97.10 billion, a PE ratio of 13.87, a P/E/G ratio of 0.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. Phillips 66 has a 1-year low of $124.88 and a 1-year high of $246.95.

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

Phillips 66 declared that its Board of Directors has initiated a stock repurchase program on Friday, July 31st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 11.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Phillips 66 Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on PSX. Wall Street Zen raised shares of Phillips 66 from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 26th. BMO Capital Markets boosted their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Barclays increased their price target on shares of Phillips 66 from $183.00 to $216.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. UBS Group raised their price objective on shares of Phillips 66 from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Argus lifted their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.56.

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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