Axxcess Wealth Management LLC Has $1.31 Million Position in Phillips 66 (NYSE:PSX)

Axxcess Wealth Management LLC lowered its position in Phillips 66 (NYSE:PSX) by 24.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,799 shares of the oil and gas company’s stock after selling 3,251 shares during the period. Axxcess Wealth Management LLC’s holdings in Phillips 66 were worth $1,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Cornerstone Planning Group LLC boosted its position in Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the period. Signature Resources Capital Management LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $33,000. Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $36,000. Bell Investment Advisors Inc boosted its position in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the period. Finally, West Branch Capital LLC boosted its position in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $145.25 on Monday. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The firm has a market capitalization of $61.58 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The stock has a fifty day moving average price of $155.55 and a two-hundred day moving average price of $138.35.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter last year, the business posted $4.21 earnings per share. As a group, analysts anticipate that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.17%. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Insider Activity at Phillips 66

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 over the last 90 days. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PSX shares. Wells Fargo & Company increased their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Mizuho reduced their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, The Goldman Sachs Group raised their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.43.

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.