Peterson Wealth Services Sells 153 Shares of Phillips 66 $PSX

Peterson Wealth Services lessened its holdings in Phillips 66 (NYSE:PSX) by 9.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,447 shares of the oil and gas company’s stock after selling 153 shares during the quarter. Peterson Wealth Services’ holdings in Phillips 66 were worth $173,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PSX. Brighton Jones LLC lifted its stake in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Phillips 66 by 15.2% in the first quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock valued at $1,190,000 after buying an additional 1,268 shares during the period. Spire Wealth Management raised its holdings in Phillips 66 by 17.6% in the 1st quarter. Spire Wealth Management now owns 3,367 shares of the oil and gas company’s stock valued at $416,000 after buying an additional 505 shares during the last quarter. Golden State Wealth Management LLC boosted its position in Phillips 66 by 194.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,989 shares of the oil and gas company’s stock worth $246,000 after buying an additional 1,314 shares during the period. Finally, Pure Financial Advisors LLC increased its position in Phillips 66 by 9.5% in the 1st quarter. Pure Financial Advisors LLC now owns 1,995 shares of the oil and gas company’s stock valued at $246,000 after acquiring an additional 173 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSX. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. UBS Group raised their price target on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Evercore ISI increased their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, with a total value of $61,775.00. Following the acquisition, the director owned 21,543 shares in the company, valued at $2,661,637.65. The trade was a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

PSX stock opened at $135.07 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The business has a 50-day simple moving average of $131.51 and a two-hundred day simple moving average of $121.79. The company has a market capitalization of $54.58 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.78 and a beta of 1.11. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35.

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

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. 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.