Phillips 66 $PSX Stock Position Raised by HB Wealth Management LLC

HB Wealth Management LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 10.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,070 shares of the oil and gas company’s stock after buying an additional 3,604 shares during the quarter. HB Wealth Management LLC’s holdings in Phillips 66 were worth $6,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after buying an additional 205,480 shares during the last quarter. State Street Corp lifted its stake in Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after acquiring an additional 175,616 shares during the last quarter. Geode Capital Management LLC lifted its stake in Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after acquiring an additional 45,340 shares during the last quarter. Norges Bank bought a new stake in Phillips 66 in the fourth quarter worth approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. grew its position in Phillips 66 by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock worth $509,006,000 after acquiring an additional 89,621 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.0%

Shares of PSX stock opened at $176.40 on Friday. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $190.61. The company has a market cap of $70.72 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $174.43 and its two-hundred day moving average is $161.15.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.90) earnings per share. Equities analysts predict that Phillips 66 will post 19.27 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Analysts Set New Price Targets

PSX has been the topic of a number of recent research reports. Raymond James Financial raised their price target on shares of Phillips 66 from $215.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Piper Sandler upped their price objective on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. Citigroup increased their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, TD Cowen raised their target price on Phillips 66 from $213.00 to $220.00 and gave the company a “buy” rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.72.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.40% of the stock is owned by insiders.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.