LexAurum Advisors LLC Has $756,000 Stake in Phillips 66 $PSX

Key Points

• LexAurum Advisors LLC increased its stake in Phillips 66 by 89.9%, now owning 6,338 shares valued at $756,000.
• Phillips 66 reported a beat on earnings with $2.38 per share, surpassing estimates of $1.79, and revenue of $33.77 billion against expectations of $32.11 billion.
• The company announced a quarterly dividend of $1.20 per share, yielding 3.5% on an annualized basis, indicating a high dividend payout ratio of 115.38%.

LexAurum Advisors LLC lifted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 89.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,338 shares of the oil and gas company's stock after purchasing an additional 3,000 shares during the period. LexAurum Advisors LLC's holdings in Phillips 66 were worth $756,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PSX. Wolff Wiese Magana LLC lifted its holdings in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock valued at $26,000 after buying an additional 82 shares during the period. von Borstel & Associates Inc. acquired a new position in Phillips 66 in the first quarter valued at approximately $27,000. Olde Wealth Management LLC acquired a new position in Phillips 66 in the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the first quarter valued at approximately $29,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Phillips 66 in the first quarter valued at approximately $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael A. Heim acquired 1,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was bought at an average price of $125.97 per share, with a total value of $125,970.00. Following the transaction, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sigmund L. Cornelius acquired 500 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 9,850 shares of company stock worth $1,188,910 and sold 13,179 shares worth $1,779,165. Company insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PSX. Evercore ISI increased their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and increased their target price for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Wells Fargo & Company cut their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Compass Point assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating on the stock. Finally, TD Cowen increased their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average price target of $139.44.

Phillips 66 Stock Down 1.3%

Phillips 66 stock opened at $137.62 on Tuesday. The company has a market cap of $55.62 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The company has a fifty day simple moving average of $128.17 and a 200 day simple moving average of $120.21. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate 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 earnings per share. Research 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 was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 115.38%.

Phillips 66 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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