Phillips 66 (NYSE:PSX) Shares Bought by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in Phillips 66 by 5.4% during the first quarter, acquiring an additional 4,802 shares, bringing its total holdings to 94,085 shares valued at approximately $11.6 million.
• Director Robert W. Pease purchased 439 shares of Phillips 66 at an average cost of $113.85 per share, resulting in a 12.02% increase in his ownership.
• Phillips 66 recently announced a quarterly dividend of $1.20 per share scheduled for payment on September 2nd, reflecting an annualized yield of 3.84%.

Avantax Advisory Services Inc. grew its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,085 shares of the oil and gas company's stock after acquiring an additional 4,802 shares during the period. Avantax Advisory Services Inc.'s holdings in Phillips 66 were worth $11,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of PSX. Cohen & Steers Inc. raised its position in Phillips 66 by 40.3% in the 4th quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company's stock worth $10,443,000 after purchasing an additional 26,318 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth $4,333,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Phillips 66 during the fourth quarter worth $15,203,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Phillips 66 by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,107,397 shares of the oil and gas company's stock worth $126,166,000 after purchasing an additional 43,238 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock worth $19,625,000 after acquiring an additional 26,825 shares during the period. Institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSX. Scotiabank reissued a "sector perform" rating and set a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. UBS Group upped their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a report on Monday. Morgan Stanley increased their target price on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. 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. Finally, TD Cowen increased their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research report on Monday. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $136.13.

Phillips 66 Trading Down 0.8%

PSX traded down $1.07 on Tuesday, hitting $126.62. 688,991 shares of the company were exchanged, compared to its average volume of 3,468,935. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The firm has a fifty day simple moving average of $121.67 and a two-hundred day simple moving average of $118.72. The stock has a market capitalization of $51.59 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 1.82 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its 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 return on equity of 4.86% and a net margin of 1.27%. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter last year, the company earned $2.31 EPS. Sell-side analysts expect 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. Stockholders of record on Tuesday, August 19th will be paid 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 dividend yield of 3.79%. Phillips 66's dividend payout ratio is 115.38%.

Insider Activity

In related news, Director Robert W. Pease bought 439 shares of the stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director directly owned 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the company's 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 completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% 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.

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.