41,511 Shares in Phillips 66 $PSX Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,511 shares of the oil and gas company’s stock, valued at approximately $4,952,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. WealthTrust Axiom LLC raised its holdings in Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after buying an additional 81 shares during the period. Wolff Wiese Magana LLC lifted its holdings in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Magnus Financial Group LLC boosted its position in shares of Phillips 66 by 2.8% during the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after purchasing an additional 84 shares during the period. Biltmore Wealth Management LLC increased its holdings in Phillips 66 by 2.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after purchasing an additional 85 shares during the last quarter. Finally, XML Financial LLC lifted its stake in Phillips 66 by 0.5% during the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 90,486 shares of company stock valued at $12,526,311 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PSX. TD Cowen lifted their price objective on Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Evercore ISI lifted their target price on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Piper Sandler lifted their price objective on shares of Phillips 66 from $159.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Hold” and a consensus price target of $146.82.

Phillips 66 Trading Down 1.5%

NYSE:PSX opened at $137.63 on Wednesday. The stock has a market cap of $55.45 billion, a P/E ratio of 37.60, a P/E/G ratio of 1.81 and a beta of 0.92. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $143.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a 50-day simple moving average of $134.98 and a 200-day simple moving average of $128.02.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the previous year, the firm earned $2.04 EPS. As a group, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.5%. Phillips 66’s payout ratio is 131.15%.

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.