Phillips 66 (NYSE:PSX) Shares Bought by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. grew its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 45.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,185 shares of the oil and gas company's stock after purchasing an additional 2,553 shares during the quarter. Stegent Equity Advisors Inc.'s holdings in Phillips 66 were worth $1,011,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new position in shares of Phillips 66 during the first quarter worth about $27,000. Olde Wealth Management LLC purchased a new position in shares of Phillips 66 during the first quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the first quarter worth about $29,000. Pacific Center for Financial Services purchased a new position in shares of Phillips 66 during the fourth quarter worth about $27,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Phillips 66 during the first quarter worth about $29,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

Shares of PSX stock traded down $2.73 during midday trading on Friday, reaching $131.66. 1,679,501 shares of the company traded hands, compared to its average volume of 3,119,398. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The firm has a market cap of $53.64 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02. The firm's 50 day simple moving average is $118.98 and its two-hundred day simple moving average is $117.59.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, equities research analysts expect that Phillips 66 will post 6.8 EPS 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. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.65%. Phillips 66's dividend payout ratio is currently 109.34%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target on the stock. in a report on Thursday, March 27th. Raymond James Financial lowered their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Barclays raised their price target on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, TD Cowen raised their price target on Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus target price of $135.07.

Insider Buying and Selling

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

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.