Nations Financial Group Inc. IA ADV Sells 4,892 Shares of Phillips 66 $PSX

Nations Financial Group Inc. IA ADV lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 15.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,738 shares of the oil and gas company’s stock after selling 4,892 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Phillips 66 were worth $5,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $26,000. Accordant Advisory Group Inc lifted its stake in Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 180 shares during the period. SWAN Capital LLC lifted its stake in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 190 shares during the period. Eagle Bay Advisors LLC bought a new stake in Phillips 66 in the fourth quarter valued at $27,000. Finally, Stephens Consulting LLC boosted its holdings in Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kevin Omar Meyers acquired 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 45,629 shares of company stock valued at $8,071,540. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

PSX opened at $166.13 on Friday. The stock has a fifty day simple moving average of $171.94 and a two-hundred day simple moving average of $158.93. 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 company has a market cap of $66.61 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.24 and a beta of 0.68. Phillips 66 has a 12-month low of $118.00 and a 12-month high of $190.61.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 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 firm 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 business posted ($0.90) EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts predict that Phillips 66 will post 18.22 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup upped their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. BMO Capital Markets lifted their target price on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, TD Cowen raised their price objective on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.33.

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.