Legend Financial Advisors Inc. Acquires Shares of 350 Phillips 66 $PSX

Legend Financial Advisors Inc. acquired a new stake in Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 350 shares of the oil and gas company’s stock, valued at approximately $42,000.

Other institutional investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new position in shares of Phillips 66 during the 1st quarter valued at $27,000. Olde Wealth Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at $29,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at $29,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of Phillips 66 during the 1st quarter valued at $29,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $139.23 on Friday. The firm has a market capitalization of $56.26 billion, a P/E ratio of 33.47, a P/E/G ratio of 1.94 and a beta of 1.15. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock’s 50-day simple moving average is $127.67 and its two-hundred day simple moving average is $120.07. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.60.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the prior year, the company earned $2.31 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio is currently 115.38%.

Analyst Ratings Changes

A number of research analysts have recently commented on PSX shares. Citigroup cut Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Compass Point started coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a “buy” rating on the stock. TD Cowen upped their price target on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Evercore ISI increased their price objective on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Finally, Raymond James Financial increased their price objective on Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.38.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total value of $593,055.00. Following the transaction, the executive vice president directly owned 38,980 shares in the company, valued at $5,262,300. This represents a 10.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the purchase, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 9,850 shares of company stock valued at $1,188,910 over the last 90 days. 0.22% of the stock is owned by insiders.

Phillips 66 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.