Phillips 66 (NYSE:PSX) Shares Purchased by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its stake in Phillips 66 by 3.0%, now owning 300,788 shares valued at approximately $37.14 million.
• Phillips 66 reported earnings per share of $2.38 for the most recent quarter, exceeding analysts' expectations of $1.79, along with revenue of $33.77 billion.
• The company announced a quarterly dividend of $1.20, representing an annualized dividend yield of 3.9%, with a payout ratio of 115.38%.

Commonwealth Equity Services LLC lifted its position in Phillips 66 (NYSE:PSX - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300,788 shares of the oil and gas company's stock after purchasing an additional 8,624 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.07% of Phillips 66 worth $37,141,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 in the 4th quarter valued at about $27,000. von Borstel & Associates Inc. acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $28,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.5%

PSX stock opened at $122.10 on Wednesday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $140.85. The stock has a market capitalization of $49.34 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.09. The company has a 50-day moving average of $122.74 and a two-hundred day moving average of $118.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

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

Phillips 66 Announces Dividend

The company 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 $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.9%. Phillips 66's payout ratio is 115.38%.

Insider Buying and Selling

In other news, Director Robert W. Pease bought 439 shares of the business's stock in a transaction dated 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 purchase, the director owned 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction that occurred 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 transaction, the executive vice president owned 56,838 shares of the company's stock, valued at $7,104,750. This trade represents a 14.71% decrease in their position. 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 ninety days. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Scotiabank reaffirmed a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. Morgan Stanley upped their price objective on Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. UBS Group upped their price objective on Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. Finally, TD Cowen upped their price objective on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.

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