Janney Montgomery Scott LLC Buys 3,897 Shares of Phillips 66 $PSX

Key Points

• Janney Montgomery Scott LLC increased its stake in Phillips 66 by 1.8%, acquiring an additional 3,897 shares, bringing its total holdings to 218,081 shares worth approximately $26 million.
• Phillips 66 reported strong earnings for Q2, with an EPS of $2.38, exceeding analysts' expectations, and revenue of $33.77 billion, above the forecast of $32.11 billion.
• The company announced a quarterly dividend of $1.20 per share, translating to an annualized dividend yield of 3.6% with an ongoing payout ratio of 115.38%.

Janney Montgomery Scott LLC lifted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 218,081 shares of the oil and gas company's stock after acquiring an additional 3,897 shares during the period. Janney Montgomery Scott LLC owned 0.05% of Phillips 66 worth $26,017,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PSX. Wolff Wiese Magana LLC lifted its holdings in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at about $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at about $29,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $134.68 on Thursday. The firm has a market cap of $54.43 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The firm's 50 day simple moving average is $128.50 and its 200-day simple moving average is $120.42. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The business 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 period last year, the company posted $2.31 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Michael A. Heim acquired 1,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the purchase, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 9,850 shares of company stock valued at $1,188,910 and have sold 13,179 shares valued at $1,779,165. Corporate insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PSX shares. Morgan Stanley increased their price objective on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Cantor Fitzgerald started coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Scotiabank reissued a "sector perform" rating and issued a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Finally, Barclays increased their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $139.44.

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.

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