Quotient Wealth Partners LLC Boosts Stock Position in Phillips 66 (NYSE:PSX)

Quotient Wealth Partners LLC increased its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,410 shares of the oil and gas company's stock after purchasing an additional 3,736 shares during the quarter. Quotient Wealth Partners LLC's holdings in Phillips 66 were worth $4,866,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Forum Financial Management LP increased 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 valued at $853,000 after buying an additional 77 shares during the period. Tortoise Investment Management LLC raised its position in Phillips 66 by 16.1% in the fourth quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company's stock worth $72,000 after acquiring an additional 88 shares during the period. Smith Moore & CO. raised its position in Phillips 66 by 0.9% in the fourth quarter. Smith Moore & CO. now owns 10,732 shares of the oil and gas company's stock worth $1,223,000 after acquiring an additional 91 shares during the period. CWC Advisors LLC. increased its stake in shares of Phillips 66 by 1.0% in the fourth 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. Finally, Golden State Wealth Management LLC increased its stake in shares of Phillips 66 by 14.4% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock worth $95,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Activity at Phillips 66

In related news, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president directly owned 56,838 shares of the company's stock, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease bought 439 shares of the stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director owned 4,091 shares of the company's stock, valued at $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Morgan Stanley cut their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Evercore ISI began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price objective on the stock. Scotiabank reiterated a "sector perform" rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday. Finally, Raymond James Financial reduced their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.07.

Phillips 66 Trading Down 2.0%

Shares of PSX stock traded down $2.73 on Friday, reaching $131.66. 1,679,501 shares of the stock were exchanged, compared to its average volume of 3,119,398. The stock has a 50 day moving average price of $118.98 and a 200 day moving average price of $117.59. The stock has a market cap of $53.64 billion, a PE ratio of 29.99, a P/E/G ratio of 2.12 and a beta of 1.02. 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 one year low of $91.01 and a one year high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the company posted $1.90 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Tuesday, August 19th. Phillips 66's payout ratio is currently 109.34%.

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.