Wealth Enhancement Advisory Services LLC Increases Stake in Phillips 66 (NYSE:PSX)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 20.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,934 shares of the oil and gas company's stock after acquiring an additional 26,825 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Phillips 66 were worth $19,625,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PSX. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock valued at $1,064,601,000 after buying an additional 639,323 shares during the period. Geode Capital Management LLC raised its holdings in Phillips 66 by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after buying an additional 82,758 shares during the period. Price T Rowe Associates Inc. MD grew its position in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after acquiring an additional 4,455,220 shares in the last quarter. Northern Trust Corp grew its position in Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after acquiring an additional 440,107 shares in the last quarter. Finally, Norges Bank acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $497,648,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 0.0%

Shares of PSX stock opened at $124.87 on Friday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The firm has a market cap of $50.88 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The stock has a 50 day moving average of $112.45 and a 200-day moving average of $117.14. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63.

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) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter last year, the firm earned $1.90 earnings per share. On average, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66's dividend payout ratio is 109.34%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PSX. Mizuho increased their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. UBS Group lowered their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research report on Wednesday. They issued a "neutral" rating for the company. Evercore ISI initiated coverage on shares of Phillips 66 in a research report on Wednesday. They set an "outperform" rating and a $130.00 price target for the company. Finally, Morgan Stanley decreased their price target on shares of 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. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.93.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares of the company's stock, valued at $465,760.35. This represents a 12.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the sale, the executive vice president now owns 56,838 shares of the company's stock, valued at $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. Company 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.

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