Phillips 66 (NYSE:PSX) Stake Raised by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its position in Phillips 66 (NYSE:PSX - Free Report) by 9.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 49,492 shares of the oil and gas company's stock after buying an additional 4,123 shares during the quarter. Wealthfront Advisers LLC's holdings in Phillips 66 were worth $6,111,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Pacific Center for Financial Services acquired a new position in Phillips 66 in the 4th quarter valued at $27,000. von Borstel & Associates Inc. acquired a new position in shares of Phillips 66 during the 1st quarter worth $27,000. Graney & King LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth $28,000. Olde Wealth Management LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth $28,000. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSX. TD Cowen upped their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Barclays upped their price target on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Morgan Stanley set a $128.00 price target on shares of Phillips 66 and gave the stock an "equal weight" rating in a research note on Wednesday. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Finally, Compass Point started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $135.27.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction on 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 sale, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the sale, the executive vice president directly owned 43,373 shares of the company's stock, valued at $5,638,490. The trade was a 9.20% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

PSX stock traded up $0.85 during mid-day trading on Friday, reaching $126.03. The company had a trading volume of 3,256,697 shares, compared to its average volume of 3,519,284. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $51.35 billion, a P/E ratio of 28.71, a P/E/G ratio of 1.99 and a beta of 1.02. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The stock's 50-day simple moving average is $121.05 and its two-hundred day simple moving average is $118.13.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the previous year, the business posted $1.90 earnings per share. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's payout ratio is 109.34%.

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.