Strategic Planning Group LLC Buys 3,754 Shares of Phillips 66 $PSX

Key Points

• Strategic Planning Group LLC increased its stake in Phillips 66 by 10.6% during the second quarter, owning over 39,000 shares valued at approximately $4.67 million.
• Phillips 66 reported an earnings per share of $2.38 for the last quarter, surpassing analysts' estimates of $1.79 and achieving a revenue of $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share, reflecting a 3.7% yield, with a payout ratio currently at 115.38%.

Strategic Planning Group LLC grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,102 shares of the oil and gas company's stock after buying an additional 3,754 shares during the period. Strategic Planning Group LLC's holdings in Phillips 66 were worth $4,665,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP increased its stake in shares of 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 worth $853,000 after acquiring an additional 77 shares during the last quarter. WealthTrust Axiom LLC increased its stake in shares of Phillips 66 by 1.1% during 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 last quarter. Biltmore Wealth Management LLC boosted its holdings in Phillips 66 by 2.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company's stock valued at $431,000 after purchasing an additional 85 shares during the period. CWC Advisors LLC. lifted its stake in Phillips 66 by 1.0% in the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock valued at $1,110,000 after purchasing an additional 92 shares during the last quarter. Finally, Legacy Private Trust Co. grew its holdings in Phillips 66 by 3.3% in the second quarter. Legacy Private Trust Co. now owns 3,007 shares of the oil and gas company's stock worth $359,000 after purchasing an additional 95 shares during the period. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Sigmund L. Cornelius acquired 500 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 9,850 shares of company stock valued at $1,188,910 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PSX shares. Evercore ISI lifted their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday. Wells Fargo & Company cut their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Mizuho lifted their price objective on Phillips 66 from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Monday, September 15th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Citigroup lowered 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 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $139.38.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $0.14 during trading hours on Monday, hitting $129.86. 3,361,899 shares of the company's stock were exchanged, compared to its average volume of 2,462,234. The company's 50-day moving average price is $127.06 and its 200-day moving average price is $119.78. The stock has a market capitalization of $52.48 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 1.86 and a beta of 1.15. 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 1-year low of $91.01 and a 1-year high of $140.60.

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, topping analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter in the prior year, the business posted $2.31 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 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. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's 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.