J.W. Cole Advisors Inc. Boosts Stock Position in Phillips 66 (NYSE:PSX)

J.W. Cole Advisors Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 628.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,768 shares of the oil and gas company's stock after purchasing an additional 45,527 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Phillips 66 were worth $6,516,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pacific Center for Financial Services purchased a new stake in shares of Phillips 66 during the fourth quarter worth approximately $27,000. von Borstel & Associates Inc. acquired a new position in Phillips 66 during the 1st quarter worth approximately $27,000. Graney & King LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $28,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $28,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $0.31 on Tuesday, reaching $126.36. 1,072,234 shares of the company were exchanged, compared to its average volume of 3,129,428. The company has a 50-day moving average of $121.35 and a 200-day moving average of $118.27. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $51.48 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same period last year, the business posted $1.90 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 annualized dividend and a dividend yield of 3.80%. Phillips 66's payout ratio is currently 109.34%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. TD Cowen increased their target price on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Piper Sandler dropped their price objective on Phillips 66 from $148.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday. UBS Group decreased their target price on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a report on Wednesday, June 18th. Finally, Citigroup cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has an average rating of "Hold" and an average target price of $135.20.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company's stock, valued at $7,104,750. The trade was a 14.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pease acquired 439 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director owned 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.