Olistico Wealth LLC Acquires 480 Shares of Phillips 66 $PSX

Olistico Wealth LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 192.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 729 shares of the oil and gas company’s stock after purchasing an additional 480 shares during the quarter. Olistico Wealth LLC’s holdings in Phillips 66 were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC increased its holdings in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 during the 1st quarter worth about $27,000. Olde Wealth Management LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Phillips 66 in the 1st quarter valued at about $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and upped their target price for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Piper Sandler upped their price objective on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Morgan Stanley lifted their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research note on Wednesday, June 18th. Finally, Argus raised shares of Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.19.

Insiders Place Their Bets

In other Phillips 66 news, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael A. Heim bought 1,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were acquired at an average cost of $125.97 per share, with a total value of $125,970.00. Following the purchase, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. This represents a 9.06% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 9,850 shares of company stock valued at $1,188,910 and have sold 13,179 shares valued at $1,779,165. 0.22% of the stock is owned by insiders.

Phillips 66 Trading Down 1.3%

Shares of Phillips 66 stock opened at $133.14 on Friday. The firm’s 50-day moving average price is $128.89 and its two-hundred day moving average price is $120.43. The company has a market capitalization of $53.80 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 1.93 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35.

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

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s payout ratio is 115.38%.

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.