IFP Advisors Inc Acquires 11,910 Shares of Phillips 66 (NYSE:PSX)

IFP Advisors Inc raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 165.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,128 shares of the oil and gas company's stock after acquiring an additional 11,910 shares during the period. IFP Advisors Inc's holdings in Phillips 66 were worth $2,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSX. OneAscent Financial Services LLC grew its position in Phillips 66 by 113.2% during the 1st quarter. OneAscent Financial Services LLC now owns 5,834 shares of the oil and gas company's stock worth $726,000 after acquiring an additional 3,098 shares during the last quarter. Counterweight Ventures LLC grew its holdings in shares of Phillips 66 by 5.9% during the first quarter. Counterweight Ventures LLC now owns 12,237 shares of the oil and gas company's stock worth $1,511,000 after purchasing an additional 687 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its holdings in shares of Phillips 66 by 11.1% during the first quarter. Cassaday & Co Wealth Management LLC now owns 2,256 shares of the oil and gas company's stock worth $279,000 after purchasing an additional 226 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Phillips 66 by 3.7% during the first quarter. Kestra Private Wealth Services LLC now owns 99,616 shares of the oil and gas company's stock worth $12,301,000 after purchasing an additional 3,566 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in shares of Phillips 66 by 5.9% during the first quarter. Diversify Advisory Services LLC now owns 3,051 shares of the oil and gas company's stock worth $377,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 56,838 shares of the company's stock, valued at approximately $7,104,750. This trade represents a 14.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pease bought 439 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director owned 4,091 shares of the company's stock, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.22% of the company's stock.

Phillips 66 Stock Up 0.2%

Shares of PSX stock traded up $0.20 on Friday, reaching $124.52. 894,489 shares of the company were exchanged, compared to its average volume of 3,474,701. The company has a market cap of $50.73 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.95 and a beta of 1.02. The company has a 50-day moving average of $121.57 and a 200-day moving average of $118.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. Phillips 66 has a one year low of $91.01 and a one year high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results 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. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Analysts Set New Price Targets

A number of research firms have weighed in on PSX. Evercore ISI began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 target price on the stock. Mizuho boosted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Piper Sandler reduced their price objective on shares of Phillips 66 from $148.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday. TD Cowen upped their price target on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and upped their price target for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $135.20.

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.