Commonwealth Equity Services LLC Boosts Stock Holdings in Phillips 66 (NYSE:PSX)

Commonwealth Equity Services LLC raised its position in Phillips 66 (NYSE:PSX) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 276,772 shares of the oil and gas company’s stock after acquiring an additional 7,973 shares during the period. Commonwealth Equity Services LLC’s holdings in Phillips 66 were worth $26,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bornite Capital Management LP bought a new stake in shares of Phillips 66 in the first quarter valued at approximately $8,639,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Phillips 66 by 316.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after purchasing an additional 5,012 shares in the last quarter. Synovus Financial Corp grew its position in shares of Phillips 66 by 5.1% in the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after purchasing an additional 788 shares in the last quarter. Cibc World Market Inc. raised its stake in shares of Phillips 66 by 61.9% during the 1st quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after purchasing an additional 2,766 shares during the period. Finally, Blair William & Co. IL lifted its holdings in Phillips 66 by 103.8% during the 1st quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after purchasing an additional 27,267 shares in the last quarter. Hedge funds and other institutional investors own 71.83% of the company’s stock.

Insider Activity

In related news, VP Joseph Scott Pruitt sold 7,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $117.02, for a total transaction of $819,140.00. Following the transaction, the vice president now owns 6,682 shares of the company’s stock, valued at approximately $781,927.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Joseph Scott Pruitt sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $117.02, for a total transaction of $819,140.00. Following the transaction, the vice president now directly owns 6,682 shares in the company, valued at approximately $781,927.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Timothy D. Roberts sold 12,970 shares of Phillips 66 stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $124.41, for a total value of $1,613,597.70. Following the completion of the transaction, the executive vice president now directly owns 80,009 shares in the company, valued at $9,953,919.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,770 shares of company stock valued at $6,158,614. Corporate insiders own 4.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PSX shares. StockNews.com started coverage on Phillips 66 in a report on Thursday, October 5th. They set a “hold” rating for the company. Tudor, Pickering, Holt & Co. raised shares of Phillips 66 from a “hold” rating to a “buy” rating and boosted their price objective for the company from $115.00 to $130.00 in a research note on Monday, October 30th. Wells Fargo & Company increased their target price on shares of Phillips 66 from $130.00 to $144.00 and gave the stock an “overweight” rating in a research note on Friday, September 8th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $146.00 price target for the company in a research report on Tuesday, October 31st. Finally, Bank of America increased their price objective on Phillips 66 from $141.00 to $143.00 and gave the stock a “neutral” rating in a research report on Monday, September 18th. Four 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Phillips 66 Trading Up 2.5 %

NYSE PSX opened at $116.37 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $115.72 and its two-hundred day simple moving average is $107.28. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $125.19. The company has a market capitalization of $51.20 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 0.39 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $4.63 earnings per share for the quarter, missing analysts’ consensus estimates of $4.78 by ($0.15). Phillips 66 had a net margin of 5.05% and a return on equity of 23.32%. During the same period in the previous year, the firm earned $6.46 EPS. Research analysts forecast that Phillips 66 will post 15.45 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.61%. Phillips 66’s payout ratio is 25.33%.

About Phillips 66

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.