Arkadios Wealth Advisors Grows Stake in Phillips 66 $PSX

Arkadios Wealth Advisors grew its holdings in Phillips 66 (NYSE:PSX) by 42.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 42,855 shares of the oil and gas company’s stock after acquiring an additional 12,667 shares during the quarter. Arkadios Wealth Advisors’ holdings in Phillips 66 were worth $5,113,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. WealthTrust Axiom LLC grew its stake in 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 worth $894,000 after buying an additional 81 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the last quarter. Magnus Financial Group LLC grew its stake in 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 buying an additional 84 shares during the last quarter. Biltmore Wealth Management LLC grew its stake in 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 buying an additional 85 shares during the last quarter. Finally, XML Financial LLC grew its stake in 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 worth $2,093,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 3.2%

Phillips 66 stock opened at $137.96 on Thursday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The stock has a 50 day moving average of $132.28 and a two-hundred day moving average of $122.90. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $55.75 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 1.75 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. During the same period last year, the firm earned $2.04 EPS. As a group, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PSX shares. Raymond James Financial restated an “outperform” rating and set a $150.00 price target (up previously from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Wells Fargo & Company started coverage on Phillips 66 in a research note on Friday, October 17th. They set an “overweight” rating and a $154.00 price target on the stock. Morgan Stanley raised their price target on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. Jefferies Financial Group raised their price target on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $141.50.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.22% of the stock is owned by company insiders.

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.