Phillips 66 (NYSE:PSX) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. increased its stake in Phillips 66 (NYSE:PSX - Free Report) by 525.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,324 shares of the oil and gas company's stock after acquiring an additional 12,034 shares during the quarter. Kovack Advisors Inc.'s holdings in Phillips 66 were worth $1,769,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSX. Price T Rowe Associates Inc. MD increased its holdings in shares of Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after acquiring an additional 4,455,220 shares in the last quarter. Norges Bank purchased a new position in shares of Phillips 66 during the 4th quarter valued at $497,648,000. Capitolis Liquid Global Markets LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at $142,185,000. GAMMA Investing LLC lifted its holdings in Phillips 66 by 14,119.5% during the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock worth $146,893,000 after purchasing an additional 1,181,240 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Phillips 66 by 157.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock worth $175,593,000 after purchasing an additional 942,922 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president directly owned 43,373 shares in the company, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on PSX shares. UBS Group lowered their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Barclays raised their target price 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. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday. Wells Fargo & Company lowered their price objective 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. Finally, Compass Point began coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating for the company. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Phillips 66 has an average rating of "Hold" and an average price target of $135.93.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $2.07 during trading hours on Monday, hitting $127.04. The company's stock had a trading volume of 1,054,228 shares, compared to its average volume of 3,476,759. 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 company has a market cap of $51.76 billion, a PE ratio of 30.54, a PEG ratio of 1.82 and a beta of 1.02. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The business has a 50 day moving average price of $121.55 and a two-hundred day moving average price of $118.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a return on equity of 4.86% and a net margin of 1.27%. During the same quarter in the prior year, the firm earned $2.31 earnings per share. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal 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 dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

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.