Strategies Wealth Advisors LLC Makes New $468,000 Investment in Phillips 66 $PSX

Key Points

• Strategies Wealth Advisors LLC has acquired a new position in Phillips 66, purchasing 3,792 shares valued at approximately $468,000 in the first quarter.
• Phillips 66 reported a quarterly EPS of $2.38, exceeding analyst expectations, with revenue of $33.77 billion in the same period.
• The company announced a quarterly dividend of $1.20 per share, which will be paid on September 2nd, representing a 3.9% yield.

Strategies Wealth Advisors LLC bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,792 shares of the oil and gas company's stock, valued at approximately $468,000.

Other large investors have also recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth approximately $4,333,000. Wealth Enhancement Advisory Services LLC increased its stake in Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock valued at $19,625,000 after purchasing an additional 26,825 shares during the last quarter. Alta Advisers Ltd purchased a new position in Phillips 66 in the first quarter valued at approximately $253,000. Sustainable Insight Capital Management LLC purchased a new position in Phillips 66 in the first quarter valued at approximately $1,457,000. Finally, Advisory Resource Group increased its stake in Phillips 66 by 6.8% in the first quarter. Advisory Resource Group now owns 256,327 shares of the oil and gas company's stock valued at $31,651,000 after purchasing an additional 16,300 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

NYSE PSX traded up $5.3520 on Friday, reaching $129.8020. The stock had a trading volume of 2,674,005 shares, compared to its average volume of 2,179,068. 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 has a 12-month low of $91.01 and a 12-month high of $140.85. The business's 50-day moving average price is $124.31 and its 200 day moving average price is $119.01. The stock has a market cap of $52.46 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 1.76 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $32.11 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. As a group, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed 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 yield of 3.7%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 115.38%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSX shares. Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and increased their price target for the company from $126.00 to $130.00 in a research note on Wednesday, July 16th. Morgan Stanley increased their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Evercore ISI started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price target on the stock. Argus upgraded shares of Phillips 66 to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Mizuho increased their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $136.20.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president directly owned 43,373 shares in the company, valued at $5,638,490. This trade represents a 9.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 9,850 shares of company stock worth $1,188,910 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.

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.