Exencial Wealth Advisors LLC Has $2.73 Million Stock Position in Phillips 66 (NYSE:PSX)

Key Points

• Exencial Wealth Advisors LLC reduced its shares in Phillips 66 by 10.3%, owning 22,122 shares valued at approximately $2.73 million.
• Phillips 66 reported a quarterly EPS of $2.38, exceeding estimates by $0.59, with a revenue of $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share, representing a 4.0% yield, with a payout ratio of 115.38%.

Exencial Wealth Advisors LLC lessened its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,122 shares of the oil and gas company's stock after selling 2,533 shares during the quarter. Exencial Wealth Advisors LLC's holdings in Phillips 66 were worth $2,732,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of 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 buying an additional 4,455,220 shares in the last quarter. Northern Trust Corp lifted its stake in Phillips 66 by 10.6% during the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after purchasing an additional 440,107 shares during the period. Invesco Ltd. boosted its holdings in Phillips 66 by 9.2% during the fourth 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 boosted its holdings in Phillips 66 by 9.8% during the fourth 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 in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Phillips 66 by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company's stock valued at $466,886,000 after purchasing an additional 377,132 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

PSX opened at $119.92 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a market capitalization of $48.46 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09. The company's 50 day simple moving average is $122.88 and its 200-day simple moving average is $118.92. Phillips 66 has a one year low of $91.01 and a one year high of $140.85.

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 (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%. During the same quarter in the prior year, the business earned $2.31 EPS. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company 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 dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's payout ratio is currently 115.38%.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Sigmund L. Cornelius purchased 500 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director owned 21,543 shares of the company's stock, valued at $2,661,637.65. The trade was a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,939 shares of company stock worth $237,725. Corporate insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Evercore ISI initiated coverage on Phillips 66 in a research report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 target price for the company. Raymond James Financial set a $142.00 price objective on Phillips 66 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley boosted their target price on shares of Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company cut their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $136.20.

About Phillips 66

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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