Vanguard Capital Wealth Advisors Has $602,000 Stake in Phillips 66 $PSX

Key Points

• Vanguard Capital Wealth Advisors increased its stake in Phillips 66 by 127.7% during the 2nd quarter, acquiring an additional 2,829 shares to total 5,045 shares valued at approximately $602,000.
• Phillips 66 recently reported earnings per share (EPS) of $2.38 for the last quarter, significantly exceeding analysts' expectations of $1.79, while the company's revenue reached $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 3.7%, despite a high dividend payout ratio of 115.38%.

Vanguard Capital Wealth Advisors increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 127.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,045 shares of the oil and gas company's stock after purchasing an additional 2,829 shares during the quarter. Vanguard Capital Wealth Advisors' holdings in Phillips 66 were worth $602,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Elliott Investment Management L.P. grew its position in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Phillips 66 by 20.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock worth $19,625,000 after purchasing an additional 26,825 shares in the last quarter. Alta Advisers Ltd bought a new stake in shares of Phillips 66 during the 1st quarter worth $253,000. Sustainable Insight Capital Management LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth about $1,457,000. Finally, Evergreen Wealth Solutions LLC bought a new stake in Phillips 66 in the 1st quarter valued at $292,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gregory Hayes bought 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the business's stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 9,850 shares of company stock valued at $1,188,910 over the last ninety days. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

NYSE PSX traded up $0.14 during trading on Monday, reaching $129.86. The company's stock had a trading volume of 3,361,899 shares, compared to its average volume of 3,252,556. The business's fifty day moving average price is $127.04 and its 200-day moving average price is $119.76. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.60. The firm has a market cap of $52.48 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 1.86 and a beta of 1.15. 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 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period last year, the firm posted $2.31 EPS. As a group, analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PSX. Evercore ISI increased their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday. Bank of America downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Argus upgraded Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. Barclays boosted their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and a consensus price target of $139.38.

Phillips 66 Company 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.