47,199 Shares in Phillips 66 $PSX Acquired by Trajan Wealth LLC

Trajan Wealth LLC purchased a new position in Phillips 66 (NYSE:PSX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 47,199 shares of the oil and gas company’s stock, valued at approximately $7,979,000.

Other institutional investors also recently modified their holdings of the company. Key Client Fiduciary Advisors LLC boosted its stake in shares of Phillips 66 by 3.5% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock worth $275,000 after acquiring an additional 55 shares in the last quarter. Threadgill Financial LLC lifted its holdings in shares of Phillips 66 by 3.5% during the second quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 58 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in shares of Phillips 66 by 2.0% during the second quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company’s stock valued at $521,000 after purchasing an additional 60 shares during the last quarter. Somerset Trust Co boosted its position in shares of Phillips 66 by 0.3% in the 2nd quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock valued at $3,601,000 after purchasing an additional 63 shares during the period. Finally, Clifford Group LLC boosted its position in shares of Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent analyst reports. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Piper Sandler raised their target price on shares of Phillips 66 from $208.00 to $209.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Argus lifted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, Morgan Stanley upped their price target on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold 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 $206.56.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the sale, the executive vice president owned 39,094 shares of the company’s stock, valued at $8,747,673.44. This trade represents a 57.13% decrease in their position. The sale 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 stock in a transaction 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 sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 100,507 shares of company stock valued at $21,770,810. Company insiders own 0.40% of the company’s stock.

Phillips 66 Stock Down 0.4%

Shares of Phillips 66 stock opened at $241.88 on Tuesday. Phillips 66 has a 1 year low of $126.74 and a 1 year high of $246.95. The company has a market cap of $96.51 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.18 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $200.25 and a 200 day moving average price of $180.36.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating the consensus estimate of $7.50 by $1.91. The company had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter in the previous year, the business posted $2.38 EPS. As a group, analysts expect that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.1%. Phillips 66’s payout ratio is presently 28.95%.

Phillips 66 announced that its Board of Directors has approved a stock buyback plan on Friday, July 31st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.