Phillips 66 $PSX Position Increased by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp increased its stake in Phillips 66 by 247.3% to a total of 119,134 shares, valued at $14.71 million.
• Insider purchases included transactions by Directors Michael A. Heim and Sigmund L. Cornelius, increasing their respective ownership stakes by 9.06% and 2.38%.
• Analysts have issued mixed ratings for Phillips 66, with a consensus rating of "Moderate Buy" and an average price target of $135.60.

Jones Financial Companies Lllp increased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 247.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,134 shares of the oil and gas company's stock after acquiring an additional 84,831 shares during the period. Jones Financial Companies Lllp's holdings in Phillips 66 were worth $14,711,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Forum Financial Management LP boosted its holdings in Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after acquiring an additional 77 shares during the last quarter. WealthTrust Axiom LLC raised its holdings in shares of Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company's stock worth $894,000 after purchasing an additional 81 shares during the period. CWC Advisors LLC. grew its stake in shares of Phillips 66 by 1.0% during the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after acquiring an additional 92 shares during the period. Hager Investment Management Services LLC increased its stake in shares of Phillips 66 by 7.2% in the first quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after purchasing an additional 96 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in Phillips 66 by 14.4% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock valued at $95,000 after acquiring an additional 97 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Shares of PSX stock traded up $1.07 during mid-day trading on Thursday, hitting $132.49. 2,132,186 shares of the stock traded hands, compared to its average volume of 3,245,665. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.60. The firm has a market cap of $53.54 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.06 and a beta of 1.15. The company's 50-day simple moving average is $126.75 and its 200-day simple moving average is $119.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. During the same period last year, the firm earned $2.31 EPS. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current 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 given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 115.38%.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $135.00, for a total value of $593,055.00. Following the completion of the sale, the executive vice president owned 38,980 shares in the company, valued at approximately $5,262,300. This represents a 10.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director owned 21,543 shares of the company's stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 9,850 shares of company stock valued at $1,188,910 and have sold 18,586 shares valued at $2,389,145. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSX. Tudor Pickering cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Piper Sandler lifted their price target on Phillips 66 from $144.00 to $154.00 and gave the stock a "neutral" rating in a research note on Thursday. Evercore ISI started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price objective for the company. Compass Point assumed coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating for the company. Finally, Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $136.40.

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.