Koshinski Asset Management Inc. Has $1.76 Million Holdings in Phillips 66 $PSX

Koshinski Asset Management Inc. trimmed its position in shares of Phillips 66 (NYSE:PSX) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 14,781 shares of the oil and gas company’s stock after selling 285 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Phillips 66 were worth $1,763,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Huntleigh Advisors Inc. raised its stake in shares of Phillips 66 by 0.7% in the second quarter. Huntleigh Advisors Inc. now owns 17,324 shares of the oil and gas company’s stock valued at $2,067,000 after acquiring an additional 116 shares during the last quarter. Nicholson Wealth Management Group LLC raised its position in Phillips 66 by 9.9% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 13,087 shares of the oil and gas company’s stock valued at $1,561,000 after purchasing an additional 1,174 shares during the last quarter. Riverbend Wealth Management LLC boosted its stake in Phillips 66 by 4.6% in the second quarter. Riverbend Wealth Management LLC now owns 3,395 shares of the oil and gas company’s stock worth $405,000 after purchasing an additional 149 shares in the last quarter. Stratos Investment Management LLC increased its stake in shares of Phillips 66 by 6.7% in the second quarter. Stratos Investment Management LLC now owns 31,657 shares of the oil and gas company’s stock valued at $3,777,000 after buying an additional 1,974 shares in the last quarter. Finally, Master S Wealth Management Inc. increased its stake in shares of Phillips 66 by 40.7% in the second quarter. Master S Wealth Management Inc. now owns 3,391 shares of the oil and gas company’s stock valued at $405,000 after buying an additional 981 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, Director Sigmund L. Cornelius bought 500 shares of Phillips 66 stock in a transaction on Thursday, July 31st. The shares were purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by company insiders.

Phillips 66 Trading Up 0.7%

NYSE PSX opened at $129.21 on Friday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The stock has a 50-day simple moving average of $130.43 and a 200 day simple moving average of $120.79. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $52.22 billion, a PE ratio of 31.06, a P/E/G ratio of 1.79 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its 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 company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the previous year, the company earned $2.31 EPS. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 115.38%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PSX. Morgan Stanley upped their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and issued a $150.00 price target (up previously from $145.00) on shares of Phillips 66 in a report on Friday. Piper Sandler upped their price objective on Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. Finally, UBS Group increased their price objective on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.50.

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.