2,120 Shares in Phillips 66 $PSX Bought by Signal Advisors Wealth LLC

Key Points

• Signal Advisors Wealth LLC has invested approximately $253,000 in Phillips 66 by acquiring 2,120 shares during the second quarter.
• Several research firms have recently updated their target prices for Phillips 66, with Evercore ISI raising its target from $130 to $170 and maintaining an "outperform" rating.
• Phillips 66 declared a quarterly dividend of $1.20 per share, which equates to an annualized yield of 3.7%.

Signal Advisors Wealth LLC acquired a new position in Phillips 66 (NYSE:PSX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,120 shares of the oil and gas company's stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Sovran Advisors LLC bought a new position in Phillips 66 in the second quarter worth approximately $324,000. Chickasaw Capital Management LLC grew its stake in Phillips 66 by 2.4% in the second quarter. Chickasaw Capital Management LLC now owns 152,444 shares of the oil and gas company's stock worth $18,187,000 after purchasing an additional 3,635 shares in the last quarter. Biltmore Wealth Management LLC grew its stake in Phillips 66 by 2.4% in the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company's stock worth $431,000 after purchasing an additional 85 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in Phillips 66 by 41.0% in the second quarter. Pallas Capital Advisors LLC now owns 5,168 shares of the oil and gas company's stock worth $616,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Mirador Capital Partners LP grew its stake in Phillips 66 by 2.6% in the second quarter. Mirador Capital Partners LP now owns 50,364 shares of the oil and gas company's stock worth $6,008,000 after purchasing an additional 1,291 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $3.13 during trading on Tuesday, reaching $132.70. 976,982 shares of the company traded hands, compared to its average volume of 3,239,734. The firm's fifty day simple moving average is $127.06 and its 200 day simple moving average is $119.78. The stock has a market cap of $53.63 billion, a P/E ratio of 31.90, a PEG ratio of 1.86 and a beta of 1.15. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.60. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

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

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Insider Buying and Selling

In related news, Director Michael A. Heim acquired 1,000 shares of Phillips 66 stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. This represents a 9.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 9,850 shares of company stock worth $1,188,910. Corporate insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSX. Cantor Fitzgerald began coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating on the stock. Evercore ISI increased their target price on Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday. Wells Fargo & Company dropped their target price on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Compass Point began coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "buy" rating on the stock. Finally, Citigroup cut Phillips 66 from a "buy" rating to a "neutral" rating and increased their target price for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $139.38.

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.