Tulsa Wealth Advisors INC Purchases New Holdings in Phillips 66 $PSX

Tulsa Wealth Advisors INC acquired a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 19,325 shares of the oil and gas company’s stock, valued at approximately $2,494,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Phillips 66 during the fourth quarter worth about $640,206,000. M&T Bank Corp boosted its stake in Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Phillips 66 by 424.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after acquiring an additional 1,532,389 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $107,967,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Phillips 66 by 732.0% in the 4th quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock worth $128,647,000 after purchasing an additional 877,131 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on PSX shares. Scotiabank upped their price objective on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group raised their target price on Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Wolfe Research boosted their target price on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Piper Sandler increased their price target on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.33.

Phillips 66 Stock Down 0.0%

Phillips 66 stock opened at $166.13 on Friday. Phillips 66 has a 1-year low of $118.00 and a 1-year high of $190.61. The firm has a market capitalization of $66.61 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.24 and a beta of 0.68. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $171.94 and a 200 day simple moving average of $158.93.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the previous year, the firm posted ($0.90) EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts predict that Phillips 66 will post 18.22 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 3.1%. Phillips 66’s dividend payout ratio is 50.05%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 45,629 shares of company stock worth $8,071,540 in the last three months. 0.40% of the stock is currently owned by insiders.

Phillips 66 Profile

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.