apricus wealth LLC Makes New Investment in Phillips 66 $PSX

apricus wealth LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,900 shares of the oil and gas company’s stock, valued at approximately $227,000.

Other large investors have also modified their holdings of the company. Wolff Wiese Magana LLC boosted its holdings in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 during the 1st quarter worth $27,000. Olde Wealth Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $28,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $29,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of Phillips 66 during the 1st quarter worth $29,000. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Michael A. Heim acquired 1,000 shares of Phillips 66 stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, with a total value of $125,970.00. Following the acquisition, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction dated 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 acquisition, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 9,850 shares of company stock valued at $1,188,910 over the last quarter. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Piper Sandler upped their target price on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Scotiabank reiterated a “sector perform” rating and set a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. UBS Group upped their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Jefferies Financial Group upped their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $141.50.

Phillips 66 Price Performance

NYSE:PSX opened at $130.42 on Tuesday. The company has a 50-day moving average of $130.67 and a 200-day moving average of $121.11. The company has a market capitalization of $52.71 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.79 and a beta of 1.11. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

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

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

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.