Adell Harriman & Carpenter Inc. Has $13.72 Million Stock Position in Phillips 66 $PSX

Adell Harriman & Carpenter Inc. boosted its holdings in Phillips 66 (NYSE:PSX) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,320 shares of the oil and gas company’s stock after buying an additional 3,105 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Phillips 66 were worth $13,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $26,000. Accordant Advisory Group Inc lifted its stake in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Phillips 66 in the 4th quarter valued at approximately $27,000. SWAN Capital LLC boosted its position in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares in the last quarter. Finally, Stephens Consulting LLC boosted its position in Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several research analyst reports. Scotiabank upped their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Guggenheim raised Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. TD Cowen boosted their price objective on Phillips 66 from $213.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Piper Sandler upped their target price on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. Finally, Argus increased their target price on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.06.

Phillips 66 Stock Up 1.6%

Shares of PSX opened at $201.41 on Wednesday. The company has a market capitalization of $80.75 billion, a PE ratio of 19.84, a PEG ratio of 0.27 and a beta of 0.69. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $201.66. The stock’s 50-day moving average price is $177.18 and its two-hundred day moving average price is $164.20. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.90) EPS. On average, analysts anticipate that Phillips 66 will post 19.08 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.5%. Phillips 66’s dividend payout ratio is presently 50.05%.

Phillips 66 News Roundup

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

• Positive Sentiment: Phillips 66’s refining network and access to low-cost crude are being highlighted as key advantages that could support long-term growth and stronger margins if fuel demand stays firm. Here’s Why Phillips 66’s Refining Strength Supports Long-Term Growth
• Positive Sentiment: Renewed Middle East tensions are tightening refined-product markets, which could lift crack spreads and improve profitability for refiners like Phillips 66. Renewed Middle East Tensions Threaten Supply: 3 Energy Stocks to Watch
• Positive Sentiment: Bloomberg reported that the recent surge in U.S. crude exports may last longer than expected, a favorable backdrop for the broader energy logistics and refining sector. Texas Port CEO Sees US Oil Exports Holding Above Prewar Levels
• Neutral Sentiment: Phillips 66 CFO Kevin Mitchell sold 11,021 shares under a pre-arranged Rule 10b5-1 trading plan, but he still retains a sizable personal stake, so the transaction appears more routine than alarming. Phillips 66’s CFO Cashed In Options but Kept an $18.3 Million Stake — Here’s What Investors Should Focus On Instead
• Neutral Sentiment: Analysts currently maintain a “Moderate Buy” consensus on PSX, with price targets that suggest expectations remain constructive but not euphoric. Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Insider Activity at Phillips 66

In other news, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 11,021 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,021 shares of company stock worth $7,195,257 over the last quarter. 0.40% of the stock is currently owned by company insiders.

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.