Valeo Financial Advisors LLC Grows Holdings in Phillips 66 $PSX

Valeo Financial Advisors LLC raised its position in Phillips 66 (NYSE:PSX) by 9,530.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,446,469 shares of the oil and gas company’s stock after buying an additional 1,431,450 shares during the period. Phillips 66 accounts for 0.5% of Valeo Financial Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Valeo Financial Advisors LLC’s holdings in Phillips 66 were worth $172,564,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PSX. Brighton Jones LLC boosted its position in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the last quarter. NBC Securities Inc. boosted its holdings in shares of Phillips 66 by 155,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,558 shares of the oil and gas company’s stock worth $192,000 after buying an additional 1,557 shares during the last quarter. Sovereign Financial Group Inc. bought a new position in Phillips 66 during the first quarter valued at about $212,000. Independence Bank of Kentucky increased its holdings in Phillips 66 by 4.1% during the first quarter. Independence Bank of Kentucky now owns 3,451 shares of the oil and gas company’s stock worth $426,000 after buying an additional 137 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its position in Phillips 66 by 11.3% in the first quarter. Gateway Investment Advisers LLC now owns 11,836 shares of the oil and gas company’s stock worth $1,462,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent research reports. UBS Group raised their target price on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating on the stock. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. Jefferies Financial Group boosted their price target on shares of Phillips 66 from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, September 15th. Finally, Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.19.

Phillips 66 Price Performance

PSX stock opened at $133.14 on Monday. The firm has a 50 day simple moving average of $128.89 and a two-hundred day simple moving average of $120.37. The stock has a market cap of $53.80 billion, a PE ratio of 32.00, a P/E/G ratio of 1.91 and a beta of 1.11. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

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

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Insider Activity

In related news, Director Gregory Hayes acquired 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael A. Heim purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director owned 12,043 shares of the company’s stock, valued at $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 9,850 shares of company stock worth $1,188,910 and have sold 13,179 shares worth $1,779,165. 0.22% of the stock is currently owned by company insiders.

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.