Journey Advisory Group LLC Buys New Shares in Phillips 66 $PSX

Journey Advisory Group LLC purchased a new position in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,450 shares of the oil and gas company’s stock, valued at approximately $469,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Evolution Wealth Management Inc. acquired a new stake in shares of Phillips 66 during the second quarter worth $25,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Phillips 66 in the 2nd quarter worth about $32,000. Winnow Wealth LLC purchased a new position in Phillips 66 in the 3rd quarter worth about $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Phillips 66 during the 2nd quarter worth about $38,000. Finally, Operose Advisors LLC lifted its stake in Phillips 66 by 260.4% during the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the transaction, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president directly owned 25,799 shares of the company’s stock, valued at $3,869,850. This represents a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,788 shares of company stock worth $6,067,250. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSX has been the topic of several analyst reports. Mizuho lifted their target price on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research note on Thursday, January 22nd. Wall Street Zen cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Barclays set a $158.00 price target on Phillips 66 in a research report on Friday. Finally, Morgan Stanley raised their price objective on Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Hold” and an average price target of $160.11.

Phillips 66 Price Performance

PSX opened at $155.72 on Friday. The stock has a fifty day moving average price of $141.98 and a 200 day moving average price of $136.08. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $163.79. The stock has a market cap of $62.74 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.55 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same period last year, the business earned ($0.15) EPS. Analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be paid a dividend of $1.27 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date is Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 3.3%. Phillips 66’s dividend payout ratio (DPR) is currently 44.36%.

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.