Koshinski Asset Management Inc. Has $1.76 Million Stock Holdings in Phillips 66 $PSX

Koshinski Asset Management Inc. decreased its position in shares of Phillips 66 (NYSE:PSX) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,781 shares of the oil and gas company’s stock after selling 285 shares during the period. Koshinski Asset Management Inc.’s holdings in Phillips 66 were worth $1,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. WealthTrust Axiom LLC grew its stake in shares of Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after buying an additional 81 shares in the last quarter. Wolff Wiese Magana LLC grew its position in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares in the last quarter. Magnus Financial Group LLC increased its stake in shares of Phillips 66 by 2.8% during the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after purchasing an additional 84 shares during the last quarter. Biltmore Wealth Management LLC increased its stake in shares of Phillips 66 by 2.4% during the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after purchasing an additional 85 shares during the last quarter. Finally, XML Financial LLC raised its holdings in shares of Phillips 66 by 0.5% during the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $129.21 on Friday. 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 moving average price is $130.43 and its two-hundred day moving average price is $120.79. The firm has a market capitalization of $52.22 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35.

Phillips 66 (NYSE:PSX) last released its 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 business had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter last year, the company earned $2.31 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes bought 8,350 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sigmund L. Cornelius purchased 500 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the purchase, the director owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,850 shares of company stock valued at $1,188,910 in the last 90 days. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PSX. Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Evercore ISI upped their price target on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. TD Cowen increased their price objective on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a report on Monday, July 28th. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Finally, UBS Group upped 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. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

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.