New Age Alpha Advisors LLC Has $4.45 Million Position in Phillips 66 (NYSE:PSX)

Key Points

• New Age Alpha Advisors LLC significantly increased its investment in Phillips 66, acquiring 27,400 additional shares, and now holds a total investment valued at $4.45 million.
• Phillips 66 recently announced a quarterly dividend of $1.20 per share, with the ex-dividend date set for August 19, representing an annualized yield of 3.9%.
• Various analysts have raised their price targets for Phillips 66, with a consensus target now set at $136.20 and ratings ranging from "buy" to "hold".

New Age Alpha Advisors LLC grew its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 317.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,020 shares of the oil and gas company's stock after acquiring an additional 27,400 shares during the period. New Age Alpha Advisors LLC's holdings in Phillips 66 were worth $4,448,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pacific Center for Financial Services acquired a new stake in Phillips 66 during the 4th quarter worth about $27,000. von Borstel & Associates Inc. acquired a new stake in Phillips 66 during the 1st quarter worth about $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 during the 1st quarter worth about $28,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction 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 approximately $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Pease acquired 439 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director directly owned 4,091 shares of the company's stock, valued at $465,760.35. This trade represents a 12.02% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,939 shares of company stock worth $237,725. Company insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. TD Cowen raised their target price on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Piper Sandler raised their target price on Phillips 66 from $144.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday. Wells Fargo & Company reduced their target price on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Barclays lifted their price target on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $136.20.

Phillips 66 Price Performance

Phillips 66 stock opened at $122.10 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock has a market cap of $49.34 billion, a P/E ratio of 29.35, a P/E/G ratio of 1.64 and a beta of 1.09. The company's 50 day moving average price is $122.74 and its two-hundred day moving average price is $118.92. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.85.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly 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. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. On average, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. Phillips 66's payout ratio is presently 115.38%.

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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