Phillips 66 $PSX Shares Purchased by GWN Securities Inc.

GWN Securities Inc. raised its holdings in Phillips 66 (NYSE:PSX) by 131.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,224 shares of the oil and gas company’s stock after purchasing an additional 3,532 shares during the quarter. GWN Securities Inc.’s holdings in Phillips 66 were worth $746,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its stake 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 valued at $26,000 after purchasing an additional 82 shares during the period. von Borstel & Associates Inc. acquired a new position in Phillips 66 in the first quarter valued at $27,000. Olde Wealth Management LLC acquired a new position in Phillips 66 in the first quarter valued at $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Phillips 66 in the first quarter valued at $29,000. Finally, Pinpoint Asset Management Ltd acquired a new position in Phillips 66 in the first quarter valued at $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on PSX. TD Cowen lifted their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Morgan Stanley lifted their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Finally, UBS Group lifted their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Three research 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. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $141.50.

Insider Buying and Selling

In related news, Director Sigmund L. Cornelius acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The SEC filing for this sale provides additional information. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Down 1.1%

PSX stock opened at $133.92 on Wednesday. The company has a market cap of $54.12 billion, a P/E ratio of 32.19, a P/E/G ratio of 1.78 and a beta of 1.11. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company’s 50-day moving average price is $131.99 and its 200 day moving average price is $122.62. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. Phillips 66’s payout ratio is currently 115.38%.

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.