Philip James Wealth Mangement LLC Purchases New Position in Phillips 66 (NYSE:PSX)

Philip James Wealth Mangement LLC purchased a new position in Phillips 66 (NYSE:PSX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,895 shares of the oil and gas company's stock, valued at approximately $906,000.

Several other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in Phillips 66 during the 2nd quarter valued at $26,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the third quarter valued at $30,000. Finally, Bank & Trust Co purchased a new stake in shares of Phillips 66 during the second quarter valued at $31,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Phillips 66 stock traded down $0.21 during mid-day trading on Friday, hitting $126.47. The stock had a trading volume of 3,116,366 shares, compared to its average volume of 2,667,594. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm's 50 day moving average is $130.12 and its 200 day moving average is $136.72. The firm has a market capitalization of $52.23 billion, a P/E ratio of 16.23, a P/E/G ratio of 4.17 and a beta of 1.33. Phillips 66 has a one year low of $110.54 and a one year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same quarter last year, the business posted $4.63 earnings per share. The firm's revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Phillips 66 will post 7.68 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PSX shares. Mizuho decreased their target price on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Bank of America initiated coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price objective for the company. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Raymond James boosted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. Finally, UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.38.

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.