Premier Path Wealth Partners LLC Has $599,000 Stock Position in Phillips 66 $PSX

Premier Path Wealth Partners LLC trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,021 shares of the oil and gas company’s stock after selling 193 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Phillips 66 were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its holdings in 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 valued at $26,000 after purchasing an additional 82 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Phillips 66 during the first quarter valued at approximately $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 during the first quarter valued at approximately $28,000. Pinpoint Asset Management Ltd acquired a new stake in Phillips 66 during the first quarter valued at approximately $29,000. Finally, Webster Bank N. A. boosted its holdings in Phillips 66 by 58.8% during the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

PSX stock opened at $137.17 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company has a 50 day moving average price of $132.54 and a 200 day moving average price of $123.00. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35. The stock has a market capitalization of $55.43 billion, a PE ratio of 37.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period in the prior year, the business posted $2.04 earnings per share. Analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is currently 115.38%.

Insiders Place Their Bets

In other Phillips 66 news, Director Gregory Hayes bought 8,350 shares of the stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the acquisition, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was 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 at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on 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 of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. UBS Group boosted their target price on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Scotiabank reissued a “sector perform” rating and issued a $133.00 target price on shares of Phillips 66 in a report on Friday, July 11th. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Finally, Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.94.

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.