Invesco LLC Has $4.16 Million Stake in Phillips 66 $PSX

Invesco LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,861 shares of the oil and gas company’s stock after selling 930 shares during the period. Phillips 66 accounts for about 1.6% of Invesco LLC’s investment portfolio, making the stock its 12th biggest holding. Invesco LLC’s holdings in Phillips 66 were worth $4,159,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. WealthTrust Axiom LLC raised its position in shares of Phillips 66 by 1.1% during the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after acquiring an additional 81 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Magnus Financial Group LLC increased its holdings in Phillips 66 by 2.8% in the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 84 shares during the last quarter. Biltmore Wealth Management LLC lifted its stake in Phillips 66 by 2.4% in the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after buying an additional 85 shares during the period. Finally, Legacy Private Trust Co. boosted its holdings in Phillips 66 by 3.3% during the second quarter. Legacy Private Trust Co. now owns 3,007 shares of the oil and gas company’s stock worth $359,000 after buying an additional 95 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In related news, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The stock was purchased 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 owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 9,850 shares of company stock worth $1,188,910. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PSX shares. Compass Point began coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a “buy” rating for the company. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a report on Wednesday, June 18th. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Citigroup cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Finally, Mizuho boosted their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $139.38.

Phillips 66 Stock Up 0.3%

Phillips 66 stock opened at $139.45 on Monday. The company has a 50 day moving average of $127.94 and a 200-day moving average of $120.14. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The stock has a market capitalization of $56.35 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS 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 business had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. During the same period in the previous year, the firm posted $2.31 EPS. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

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

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.