Wealthspire Advisors LLC Buys 10,086 Shares of Phillips 66 (NYSE:PSX)

Wealthspire Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 96.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,526 shares of the oil and gas company's stock after purchasing an additional 10,086 shares during the period. Wealthspire Advisors LLC's holdings in Phillips 66 were worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Forum Financial Management LP raised its position in shares of Phillips 66 by 1.0% during the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after purchasing an additional 77 shares during the period. CWC Advisors LLC. increased its stake in Phillips 66 by 1.0% in the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after purchasing an additional 92 shares in the last quarter. Hager Investment Management Services LLC raised its holdings in Phillips 66 by 7.2% during the 1st quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after buying an additional 96 shares during the period. Golden State Wealth Management LLC lifted its stake in Phillips 66 by 14.4% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock valued at $95,000 after buying an additional 97 shares in the last quarter. Finally, Lantern Wealth Advisors LLC boosted its holdings in shares of Phillips 66 by 4.7% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,224 shares of the oil and gas company's stock worth $253,000 after buying an additional 99 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In related news, Director Michael A. Heim bought 1,000 shares of Phillips 66 stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the purchase, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 1,939 shares of company stock valued at $237,725 in the last three months. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.16 during trading hours on Friday, hitting $119.14. 1,694,152 shares of the stock were exchanged, compared to its average volume of 2,537,577. Phillips 66 has a one year low of $91.01 and a one year high of $140.85. The company's 50 day moving average is $123.09 and its 200 day moving average is $118.91. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a market capitalization of $48.15 billion, a P/E ratio of 28.64, a P/E/G ratio of 1.61 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. During the same period in the prior year, the company earned $2.31 earnings per share. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given 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 yield of 4.0%. Phillips 66's payout ratio is 115.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PSX shares. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. TD Cowen increased their target price on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a report on Monday, July 28th. Scotiabank reiterated a "sector perform" rating and set a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. UBS Group increased their price objective on Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, Mizuho lifted their target price on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.20.

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.