Phillips 66 $PSX Shares Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC boosted its stake in Phillips 66 (NYSE:PSX) by 108.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,662 shares of the oil and gas company’s stock after purchasing an additional 2,945 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Phillips 66 were worth $731,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. GHP Investment Advisors Inc. boosted its stake in Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after purchasing an additional 72 shares during the last quarter. L2 Asset Management LLC boosted its stake in Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 72 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after purchasing an additional 73 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in Phillips 66 by 1.6% during the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock worth $631,000 after purchasing an additional 74 shares during the last quarter. Finally, Abacus Planning Group Inc. boosted its stake in Phillips 66 by 3.9% during the 4th quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PSX. Scotiabank lifted their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen cut shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings cut shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Argus lifted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.28.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lisa Ann Davis sold 3,800 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the sale, the director owned 8,701 shares in the company, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 114,029 shares of company stock valued at $19,641,455 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 News Summary

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66 announced the Zeus Gas Plant and a third Coastal Bend Fractionator, a meaningful capacity expansion that could support future growth in gas processing and fractionation volumes. Reuters: Phillips 66 to expand gas processing in Permian Basin and Gulf Coast
• Positive Sentiment: The new projects deepen Phillips 66’s Permian-to-Gulf Coast integration and could strengthen margins by capturing more value across the midstream chain. Yahoo Finance: Phillips 66 announces Zeus Gas Plant and a third Coastal Bend Fractionator
• Positive Sentiment: Brokerage and earnings commentary has also been constructive, with Scotiabank reportedly lifting earnings estimates and recent coverage highlighting Phillips 66’s Q1 earnings beat. American Banking News: Scotiabank Brokers Lift Earnings Estimates for Phillips 66
• Neutral Sentiment: Some articles focused on PSX’s recent 1-week momentum and valuation following its Q1 beat and board changes, which may be helping keep the stock on traders’ radar. Zacks: Phillips 66 Is Up 2.70% in One Week
• Neutral Sentiment: Broader energy-sector weakness earlier in the day may have offset some of the stock-specific optimism. Yahoo Finance: Sector Update Energy Stocks Lean Lower Pre-Bell Monday

Phillips 66 Stock Up 2.1%

NYSE PSX opened at $179.85 on Tuesday. Phillips 66 has a 52 week low of $109.75 and a 52 week high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $171.05 and its 200-day simple moving average is $152.25. The firm has a market cap of $72.11 billion, a PE ratio of 17.72, a P/E/G ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.90) EPS. As a group, equities analysts anticipate that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, May 18th. Phillips 66’s payout ratio is 50.05%.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.