Ethos Financial Group LLC Acquires 8,880 Shares of Phillips 66 $PSX

Key Points

• Ethos Financial Group LLC significantly increased its stake in Phillips 66 by acquiring 8,880 shares, resulting in a total of 11,334 shares valued at approximately $1.35 million.
• Phillips 66's most recent earnings report showed an **earnings per share (EPS)** of $2.38, surpassing analysts' expectations of $1.79, with revenue hitting $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share with a yield of 3.9%, scheduled for payment on September 2nd.

Ethos Financial Group LLC boosted its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 361.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,334 shares of the oil and gas company's stock after acquiring an additional 8,880 shares during the period. Ethos Financial Group LLC's holdings in Phillips 66 were worth $1,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC bought a new position in Phillips 66 during the fourth quarter worth about $4,333,000. Wealth Enhancement Advisory Services LLC lifted its stake in Phillips 66 by 20.3% during 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 purchasing an additional 26,825 shares during the period. Alta Advisers Ltd bought a new position in Phillips 66 during the first quarter worth about $253,000. Advisory Resource Group lifted its stake 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 worth $31,651,000 after purchasing an additional 16,300 shares during the period. Finally, Sustainable Insight Capital Management LLC bought a new position in Phillips 66 during the first quarter worth about $1,457,000. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Phillips 66 news, Director Sigmund L. Cornelius acquired 500 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director directly owned 21,543 shares of the company's stock, 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 can be accessed through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 9,850 shares of company stock worth $1,188,910 over the last quarter. Insiders own 0.22% of the company's stock.

Phillips 66 Trading Up 4.2%

Shares of NYSE PSX traded up $5.2550 during mid-day trading on Friday, hitting $129.7050. The company's stock had a trading volume of 835,475 shares, compared to its average volume of 3,318,631. The stock has a market cap of $52.42 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a one year low of $91.01 and a one year high of $140.85. The company's fifty day simple moving average is $124.16 and its 200-day simple 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the firm earned $2.31 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66's dividend payout ratio is 115.38%.

Analyst Ratings Changes

A number of brokerages have weighed in on PSX. Raymond James Financial set a $142.00 target price on shares of Phillips 66 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a research note on Wednesday, June 18th. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Compass Point began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus price target of $136.20.

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.