Creative Financial Designs Inc. ADV Raises Stock Position in Phillips 66 $PSX

Creative Financial Designs Inc. ADV increased its stake in Phillips 66 (NYSE:PSX) by 69.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,022 shares of the oil and gas company’s stock after purchasing an additional 832 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Phillips 66 were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PSX. Elliott Investment Management L.P. boosted its stake in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in Phillips 66 by 9,530.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after purchasing an additional 1,431,450 shares in the last quarter. Nuveen LLC acquired a new stake in Phillips 66 in the 1st quarter worth approximately $156,482,000. Price T Rowe Associates Inc. MD boosted its stake in Phillips 66 by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Phillips 66 by 15.9% in the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after purchasing an additional 653,248 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSX has been the subject of a number of recent analyst reports. Mizuho lifted their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Jefferies Financial Group lifted their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. TD Cowen lifted their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Finally, Raymond James Financial restated an “outperform” rating and set a $150.00 price objective (up from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.94.

Phillips 66 Stock Performance

PSX opened at $136.23 on Monday. 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 firm has a fifty day moving average price of $132.67 and a 200 day moving average price of $123.64. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. The stock has a market cap of $54.89 billion, a P/E ratio of 37.22, a P/E/G ratio of 1.81 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) 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 firm had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. During the same period in the previous year, the business posted $2.04 EPS. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. The trade was a 11.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory Hayes bought 8,350 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.22% of the company’s stock.

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.