San Luis Wealth Advisors LLC Invests $606,000 in Phillips 66 (NYSE:PSX)

San Luis Wealth Advisors LLC purchased a new stake in Phillips 66 (NYSE:PSX) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 4,906 shares of the oil and gas company’s stock, valued at approximately $606,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSX. J.Safra Asset Management Corp acquired a new stake in Phillips 66 in the 4th quarter valued at about $25,000. Pacific Center for Financial Services acquired a new stake in Phillips 66 in the 4th quarter valued at about $27,000. Graney & King LLC acquired a new stake in Phillips 66 in the 4th quarter valued at about $28,000. Wood Tarver Financial Group LLC acquired a new stake in Phillips 66 in the 4th quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on PSX shares. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a report on Thursday, March 27th. Tudor Pickering downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Mizuho increased their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. TD Cowen raised their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Finally, UBS Group decreased their price objective on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.46.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease purchased 439 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director now directly owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 1.2%

NYSE:PSX opened at $123.60 on Tuesday. The firm has a market cap of $50.36 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. The stock has a fifty day moving average price of $110.46 and a 200 day moving average price of $117.28. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The company had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. During the same quarter last year, the business posted $1.90 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.88%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is 109.34%.

Phillips 66 Company Profile

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.