Diversify Wealth Management LLC Purchases Shares of 7,764 Phillips 66 $PSX

Diversify Wealth Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,764 shares of the oil and gas company’s stock, valued at approximately $1,347,000.

Other institutional investors and hedge funds have also modified their holdings of the company. 180 Wealth Advisors LLC purchased a new position in Phillips 66 during the first quarter valued at approximately $200,000. Citizens Financial Group Inc. RI grew its stake in shares of Phillips 66 by 41.5% during the 1st quarter. Citizens Financial Group Inc. RI now owns 11,659 shares of the oil and gas company’s stock worth $2,124,000 after purchasing an additional 3,421 shares during the period. Fifth Third Bancorp increased its holdings in shares of Phillips 66 by 543.7% during the 1st quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company’s stock valued at $23,348,000 after purchasing an additional 108,248 shares in the last quarter. Glass Wealth Management Co LLC boosted its holdings in Phillips 66 by 2.7% during the first quarter. Glass Wealth Management Co LLC now owns 30,399 shares of the oil and gas company’s stock worth $5,538,000 after buying an additional 800 shares in the last quarter. Finally, American Trust acquired a new stake in Phillips 66 during the first quarter valued at $204,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

More Phillips 66 News

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

• Positive Sentiment: Phillips 66 continues to attract constructive analyst coverage, with recent price targets ranging from the high $180s to above $200, suggesting Wall Street still sees meaningful upside from current levels. Article Title
• Positive Sentiment: The company’s refining operations are still being viewed as a long-term strength, helped by low-cost crude access and an efficient network that could benefit if fuel demand and crack spreads improve. Article Title
• Positive Sentiment: Phillips 66 also has a recent quarterly dividend of $1.27 per share, underscoring continued cash-return strength for income-focused investors.

Phillips 66 Stock Performance

NYSE PSX opened at $195.94 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $177.66 and its 200-day simple moving average is $164.68. The company has a market cap of $78.56 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 0.26 and a beta of 0.69. Phillips 66 has a 1-year low of $118.07 and a 1-year high of $201.65.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the prior year, the company earned ($0.90) EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Phillips 66 will post 19.84 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is currently 50.05%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PSX shares. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. UBS Group reiterated a “buy” rating and set a $212.00 price target on shares of Phillips 66 in a research report on Monday, June 15th. Barclays raised their price objective on Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, Citigroup boosted their price objective on Phillips 66 from $183.00 to $204.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $196.06.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The shares were bought 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 $2,908,242.88. This represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 41,021 shares of company stock valued at $7,195,257. 0.40% of the stock is owned by insiders.

Phillips 66 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.