Focus Partners Advisor Solutions LLC Has $1.50 Million Stock Position in Phillips 66 $PSX

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Phillips 66 by 28.7% during the first quarter, holding 12,151 shares valued at approximately $1.5 million.
• Phillips 66 reported a quarterly earnings per share of $2.38, surpassing estimates by $0.59, with revenues reaching $33.77 billion.
• The company's recently declared quarterly dividend of $1.20 per share reflects an annualized rate of $4.80, resulting in a dividend yield of 3.6%.

Focus Partners Advisor Solutions LLC grew its position in Phillips 66 (NYSE:PSX - Free Report) by 28.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,151 shares of the oil and gas company's stock after buying an additional 2,710 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Phillips 66 were worth $1,501,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Brighton Jones LLC grew its holdings in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after buying an additional 7,214 shares during the period. AQR Capital Management LLC grew its holdings in shares of Phillips 66 by 38.0% in the 4th quarter. AQR Capital Management LLC now owns 121,989 shares of the oil and gas company's stock valued at $13,827,000 after buying an additional 33,591 shares during the period. AXA S.A. grew its holdings in shares of Phillips 66 by 47.0% in the 4th quarter. AXA S.A. now owns 78,146 shares of the oil and gas company's stock valued at $8,903,000 after buying an additional 24,983 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Phillips 66 by 9.2% in the 4th quarter. Benjamin Edwards Inc. now owns 32,839 shares of the oil and gas company's stock valued at $3,742,000 after buying an additional 2,767 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $4,333,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 9,800 shares of the company'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 sale, the executive vice president directly owned 56,838 shares of the company's stock, valued at approximately $7,104,750. This represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares in the company, valued at $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 9,850 shares of company stock worth $1,188,910 in the last 90 days. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PSX shares. Bank of America lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and boosted their price target for the company from $144.00 to $147.00 in a report on Wednesday. Morgan Stanley upped their target price on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Mizuho upped their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Raymond James Financial set a $142.00 target price on shares of Phillips 66 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $135.60.

Phillips 66 Stock Down 0.1%

NYSE:PSX traded down $0.14 on Friday, hitting $131.44. 1,828,526 shares of the company's stock were exchanged, compared to its average volume of 1,927,008. The firm has a 50-day moving average price of $126.26 and a 200-day moving average price of $119.50. 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 has a 52 week low of $91.01 and a 52 week high of $140.60. The company has a market cap of $53.12 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. During the same period in the previous year, the firm posted $2.31 EPS. As a group, analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio is presently 115.38%.

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.