Phillips 66 $PSX Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 3.5% during the first quarter, HoldingsChannel reports. The fund owned 229,750 shares of the oil and gas company’s stock after acquiring an additional 7,688 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Phillips 66 were worth $41,856,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PSX. Caldwell Trust Co grew its holdings in Phillips 66 by 6.8% during the 1st quarter. Caldwell Trust Co now owns 18,575 shares of the oil and gas company’s stock worth $3,384,000 after acquiring an additional 1,186 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in Phillips 66 by 4.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 252,809 shares of the oil and gas company’s stock worth $46,057,000 after purchasing an additional 10,384 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Phillips 66 by 12.5% in the first quarter. Pictet Asset Management Holding SA now owns 241,073 shares of the oil and gas company’s stock valued at $43,932,000 after buying an additional 26,794 shares during the last quarter. Yoder Wealth Management Inc. bought a new stake in Phillips 66 in the first quarter valued at about $208,000. Finally, Traveka Wealth LLC acquired a new stake in Phillips 66 during the first quarter valued at approximately $280,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PSX has been the subject of several research reports. Morgan Stanley lifted their target price on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. TD Cowen upped their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Raymond James Financial increased their price objective on Phillips 66 from $215.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Piper Sandler lifted their target price on Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $192.33.

Phillips 66 Stock Up 0.1%

Phillips 66 stock opened at $171.84 on Monday. Phillips 66 has a 52 week low of $118.00 and a 52 week high of $190.61. The stock has a market cap of $68.90 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.24 and a beta of 0.68. The company’s 50-day moving average price is $172.94 and its two-hundred day moving average price is $160.16. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

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

Phillips 66 Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.0%. Phillips 66’s payout ratio is presently 50.05%.

Phillips 66 Company 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.