Axxcess Wealth Management LLC Acquires 3,003 Shares of Phillips 66 $PSX

Axxcess Wealth Management LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 26.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,288 shares of the oil and gas company’s stock after acquiring an additional 3,003 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Phillips 66 were worth $2,603,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Clifford Group LLC grew its position in Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after buying an additional 64 shares during the period. CYBER HORNET ETFs LLC increased its holdings in Phillips 66 by 5.7% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after buying an additional 66 shares during the last quarter. GHP Investment Advisors Inc. raised its position in Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after acquiring an additional 72 shares during the period. Johnson Financial Group Inc. boosted its stake in Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 72 shares during the last quarter. Finally, L2 Asset Management LLC boosted its stake in Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 72 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Trending Headlines about Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Higher gasoline and fuel margins are supporting refiners, and weekly data showing another decline in U.S. gasoline inventories suggests tighter supply and better near-term profitability for Phillips 66. Phillips 66 Gains as Strong Fuel-Margin Backdrop Lifts Refiners
• Positive Sentiment: Crude prices surged after U.S. strikes on Iran and renewed threats of more strikes heightened geopolitical risk, which is lifting energy-sector shares and increasing trading interest in PSX. Phillips 66 (PSX) Stock Faces Higher Crude Costs After U.S. Strikes On Iran
• Positive Sentiment: Analysts remain broadly constructive, with multiple recent price targets clustered above the current share price, including TD Cowen at $220 and Goldman Sachs at $207, which may be reinforcing bullish sentiment. Update: US Equity Indexes Slide, Crude Oil Surges After Trump Threatens More Strikes on Iran
• Neutral Sentiment: Phillips 66 is scheduled to report second-quarter earnings on August 5, and investors may be positioning ahead of results after the company previously beat EPS estimates despite mixed revenue. Phillips 66 Gains as Strong Fuel-Margin Backdrop Lifts Refiners
• Negative Sentiment: Zacks Research downgraded Phillips 66 from “strong-buy” to “hold,” which could temper some of the upside enthusiasm. Zacks.com

Phillips 66 Stock Up 5.0%

Phillips 66 stock opened at $187.81 on Thursday. Phillips 66 has a 1-year low of $118.07 and a 1-year high of $190.61. The firm has a market capitalization of $75.30 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 0.24 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $175.58 and a 200 day simple moving average of $162.35.

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

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PSX shares. Argus increased their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Citigroup lifted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.72.

Insider Transactions at Phillips 66

In related news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Company Profile

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.