Farther Finance Advisors LLC Has $1.74 Million Stock Holdings in Phillips 66 $PSX

Farther Finance Advisors LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 7.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,546 shares of the oil and gas company’s stock after purchasing an additional 988 shares during the period. Farther Finance Advisors LLC’s holdings in Phillips 66 were worth $1,735,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. von Borstel & Associates Inc. acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Wood Tarver Financial Group LLC acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $29,000. Opal Wealth Advisors LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $29,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.1%

PSX opened at $129.86 on Tuesday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.60. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market cap of $52.48 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.86 and a beta of 1.15. The company has a fifty day moving average price of $127.06 and a two-hundred day moving average price of $119.78.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. Analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s payout ratio is presently 115.38%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PSX. Barclays raised their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Mizuho raised their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Evercore ISI raised their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their target price for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Finally, Morgan Stanley raised their target price on shares of Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $139.38.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes bought 8,350 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sigmund L. Cornelius bought 500 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,850 shares of company stock valued at $1,188,910. Insiders own 0.22% of the company’s stock.

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.