Wealth Enhancement Advisory Services LLC Has $15.05 Million Stock Position in Phillips 66 (NYSE:PSX)

Wealth Enhancement Advisory Services LLC lifted its stake in Phillips 66 (NYSE:PSX - Free Report) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,109 shares of the oil and gas company's stock after buying an additional 8,821 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Phillips 66 were worth $15,051,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Price T Rowe Associates Inc. MD grew its stake in Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new position in shares of Phillips 66 during the fourth quarter worth approximately $497,648,000. Raymond James Financial Inc. purchased a new position in shares of Phillips 66 during the fourth quarter worth approximately $168,790,000. Capitolis Liquid Global Markets LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $142,185,000. Finally, Jacobs Levy Equity Management Inc. raised its position in Phillips 66 by 157.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock valued at $175,593,000 after purchasing an additional 942,922 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert W. Pease bought 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

PSX traded down $3.85 during trading on Wednesday, reaching $112.12. The stock had a trading volume of 1,309,921 shares, compared to its average volume of 3,005,447. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The firm has a market capitalization of $45.68 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The stock has a 50 day moving average of $108.84 and a two-hundred day moving average of $118.30. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the prior year, the business earned $1.90 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 4.28%. Phillips 66's dividend payout ratio is currently 109.34%.

Analysts Set New Price Targets

A number of research firms have commented on PSX. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. Scotiabank lowered their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company cut their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Tudor Pickering lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and an average target price of $135.62.

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.