Nations Financial Group Inc. IA ADV Decreases Holdings in Phillips 66 (NYSE:PSX)

Nations Financial Group Inc. IA ADV cut its stake in shares of Phillips 66 (NYSE:PSX) by 15.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,279 shares of the oil and gas company’s stock after selling 6,448 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Phillips 66 were worth $4,233,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PSX. von Borstel & Associates Inc. purchased a new position in shares of Phillips 66 during the 1st quarter worth $27,000. Olde Wealth Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the 1st quarter worth $29,000. Pacific Center for Financial Services purchased a new position in shares of Phillips 66 during the 4th quarter worth $27,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter worth $29,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gregory Hayes bought 8,350 shares of the stock in a transaction on Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the purchase, the director owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 10,289 shares of company stock worth $1,238,890. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $122.79 on Friday. The company’s 50-day moving average price is $123.66 and its 200-day moving average price is $118.89. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.85. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market cap of $49.62 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 1.68 and a beta of 1.09.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the previous year, the firm posted $2.31 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, August 19th. Phillips 66’s dividend payout ratio is currently 115.38%.

Analysts Set New Price Targets

PSX has been the topic of several analyst reports. Scotiabank reiterated a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a research note on Friday, July 11th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Barclays lifted their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Raymond James Financial set a $142.00 target price on shares of Phillips 66 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $136.20.

Phillips 66 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.