Creative Financial Designs Inc. ADV Raises Stock Position in Phillips 66 $PSX

Creative Financial Designs Inc. ADV increased its stake in Phillips 66 (NYSE:PSX) by 69.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,022 shares of the oil and gas company’s stock after acquiring an additional 832 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Phillips 66 were worth $241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Brighton Jones LLC increased its holdings in 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 worth $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Phillips 66 by 14.4% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company’s stock worth $95,000 after buying an additional 97 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Phillips 66 by 18.9% during the first quarter. First Horizon Advisors Inc. now owns 3,535 shares of the oil and gas company’s stock worth $437,000 after buying an additional 561 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Phillips 66 by 2.6% during the first quarter. Principal Financial Group Inc. now owns 531,381 shares of the oil and gas company’s stock worth $65,615,000 after buying an additional 13,489 shares in the last quarter. Finally, Calamos Advisors LLC grew its holdings in shares of Phillips 66 by 1.1% during the first quarter. Calamos Advisors LLC now owns 71,944 shares of the oil and gas company’s stock worth $8,884,000 after buying an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.6%

Shares of PSX stock opened at $136.23 on Monday. The company’s 50-day moving average price is $132.67 and its 200-day moving average price is $123.64. 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 stock has a market cap of $54.89 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 1.81 and a beta of 1.11. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same quarter in the previous year, the company posted $2.04 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Phillips 66’s dividend payout ratio is presently 131.15%.

Insider Activity

In related news, Director Gregory Hayes acquired 8,350 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were purchased 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 in the company, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred 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 owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price 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. Barclays upped their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Mizuho upped their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Wells Fargo & Company upped their target price on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.94.

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.