OneAscent Financial Services LLC Buys 3,098 Shares of Phillips 66 (NYSE:PSX)

OneAscent Financial Services LLC grew its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 113.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,834 shares of the oil and gas company's stock after acquiring an additional 3,098 shares during the quarter. OneAscent Financial Services LLC's holdings in Phillips 66 were worth $726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in Phillips 66 in the 4th quarter valued at $55,000. Mizuho Securities USA LLC lifted its holdings in Phillips 66 by 44.2% in the fourth quarter. Mizuho Securities USA LLC now owns 39,142 shares of the oil and gas company's stock worth $4,459,000 after acquiring an additional 12,000 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Phillips 66 by 10.2% during the 4th quarter. LPL Financial LLC now owns 734,484 shares of the oil and gas company's stock valued at $83,680,000 after acquiring an additional 67,993 shares in the last quarter. Finally, Crowley Wealth Management Inc. acquired a new position in Phillips 66 in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of analyst reports. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research note on Thursday, March 27th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Compass Point started coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating on the stock. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Finally, Raymond James Financial set a $142.00 price objective on Phillips 66 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Hold" and an average target price of $135.27.

Phillips 66 Stock Up 0.0%

PSX stock opened at $125.95 on Tuesday. The business has a 50 day moving average of $121.35 and a 200 day moving average of $118.27. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The firm has a market cap of $51.32 billion, a PE ratio of 38.15, a price-to-earnings-growth 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 announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the business earned $1.90 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

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 given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio is 109.34%.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.

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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