Simplicity Wealth LLC Takes Position in Phillips 66 (NYSE:PSX)

Simplicity Wealth LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,013 shares of the oil and gas company's stock, valued at approximately $372,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Forum Financial Management LP increased its stake in Phillips 66 by 1.0% in 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 purchasing an additional 77 shares during the period. NewEdge Wealth LLC lifted its holdings in shares of Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after buying an additional 81 shares during the period. JBR Co Financial Management Inc lifted its holdings in Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after acquiring an additional 85 shares during the period. Nwam LLC boosted its holdings in Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after buying an additional 85 shares in the last quarter. Finally, PFG Private Wealth Management LLC grew its holdings in shares of Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock worth $140,000 after acquiring an additional 88 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $0.68 during trading hours on Friday, hitting $122.20. 3,074,645 shares of the company's stock were exchanged, compared to its average volume of 3,031,894. The company's 50-day moving average price is $109.24 and its 200-day moving average price is $117.65. The stock has a market capitalization of $49.79 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 4.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $91.01 and a 1-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) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.93%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PSX. Wells Fargo & Company cut their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday. UBS Group dropped their price objective on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Morgan Stanley decreased their target price on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Barclays increased their target price on Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and a consensus price target of $135.46.

Insiders Place Their Bets

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director now directly owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.22% of the company's stock.

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.