Focus Partners Advisor Solutions LLC Has $4.28 Million Stake in Phillips 66 $PSX

Focus Partners Advisor Solutions LLC raised its stake in Phillips 66 (NYSE:PSX) by 164.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,009 shares of the oil and gas company’s stock after acquiring an additional 19,288 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Phillips 66 were worth $4,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Evolution Wealth Management Inc. acquired a new stake in Phillips 66 in the second quarter valued at approximately $25,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Phillips 66 in the 2nd quarter valued at $32,000. Winnow Wealth LLC bought a new position in shares of Phillips 66 in the 3rd quarter valued at $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at $38,000. Finally, Operose Advisors LLC grew its position in Phillips 66 by 260.4% during the 2nd quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 250 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSX shares. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $158.00 price objective on shares of Phillips 66 in a research note on Friday, February 20th. Piper Sandler lifted their target price on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Citigroup boosted their target price on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $160.11.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,288 shares of company stock valued at $2,496,230. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $159.50 on Wednesday. The stock has a market capitalization of $63.92 billion, a PE ratio of 14.74, a PEG ratio of 0.56 and a beta of 0.86. The business’s 50 day simple moving average is $145.28 and its 200 day simple moving average is $137.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. Phillips 66 has a one year low of $91.01 and a one year high of $163.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter in the previous year, the company earned ($0.15) EPS. As a group, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.2%. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Monday, February 23rd. Phillips 66’s payout ratio is currently 46.95%.

About Phillips 66

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.