Kestra Private Wealth Services LLC Acquires 3,566 Shares of Phillips 66 (NYSE:PSX)

Kestra Private Wealth Services LLC grew its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,616 shares of the oil and gas company's stock after acquiring an additional 3,566 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Phillips 66 were worth $12,301,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PSX. Diversify Advisory Services LLC grew its stake in Phillips 66 by 5.9% during the 1st quarter. Diversify Advisory Services LLC now owns 3,051 shares of the oil and gas company's stock valued at $377,000 after purchasing an additional 170 shares in the last quarter. Patton Albertson Miller Group LLC acquired a new stake in Phillips 66 during the 1st quarter valued at approximately $210,000. Retirement Planning Co of New England Inc. grew its stake in Phillips 66 by 33.5% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 8,287 shares of the oil and gas company's stock valued at $1,023,000 after purchasing an additional 2,081 shares in the last quarter. Forte Capital LLC ADV acquired a new stake in Phillips 66 during the 1st quarter valued at approximately $234,000. Finally, Forum Financial Management LP grew its stake in Phillips 66 by 1.8% during the 1st quarter. Forum Financial Management LP now owns 7,618 shares of the oil and gas company's stock valued at $941,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Insider Transactions at Phillips 66

In other news, Director Robert W. Pease acquired 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president directly owned 56,838 shares of the company's stock, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

Phillips 66 stock traded up $0.85 during mid-day trading on Friday, hitting $126.03. 3,256,697 shares of the company's stock traded hands, compared to its average volume of 3,139,786. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The company has a market cap of $51.35 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02. The firm has a 50 day moving average price of $121.35 and a 200 day moving average price of $118.24. 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 issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter last year, the business posted $1.90 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be given a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.81%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Analysts Set New Price Targets

A number of research analysts have commented on PSX shares. Cantor Fitzgerald started coverage on Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating on the stock. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. UBS Group reduced their target price on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Piper Sandler set a $148.00 target price on Phillips 66 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Finally, Raymond James Financial set a $142.00 target price on Phillips 66 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.