Kingsview Wealth Management LLC Acquires 5,075 Shares of Phillips 66 (NYSE:PSX)

Kingsview Wealth Management LLC increased its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,870 shares of the oil and gas company's stock after acquiring an additional 5,075 shares during the quarter. Kingsview Wealth Management LLC's holdings in Phillips 66 were worth $5,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. Geode Capital Management LLC grew its position in shares of Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after acquiring an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Phillips 66 by 283.5% during 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 purchasing an additional 4,455,220 shares in the last quarter. Northern Trust Corp boosted its position in shares of Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after purchasing an additional 440,107 shares in the last quarter. Norges Bank bought a new position in shares of Phillips 66 during the 4th quarter valued at about $497,648,000. Finally, Invesco Ltd. increased its position in shares of Phillips 66 by 9.2% in the fourth quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company's stock worth $468,551,000 after acquiring an additional 347,905 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Performance

Phillips 66 stock traded up $1.73 during midday trading on Monday, reaching $127.63. The stock had a trading volume of 240,293 shares, compared to its average volume of 3,128,631. The firm's 50-day moving average price is $121.35 and its 200 day moving average price is $118.27. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The firm has a market capitalization of $52.00 billion, a PE ratio of 29.01, a P/E/G ratio of 1.95 and a beta of 1.02. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter last year, the company posted $1.90 earnings per share. As a group, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.76%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio is currently 109.34%.

Insider Activity

In other news, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the sale, the executive vice president owned 43,373 shares of the company's stock, valued at $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. Evercore ISI assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price target for the company. 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 report on Wednesday, July 16th. Finally, Mizuho boosted their price target 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. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $135.27.

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.