Wedbush Securities Inc. Has $1.89 Million Position in Phillips 66 $PSX

Wedbush Securities Inc. lifted its stake in Phillips 66 (NYSE:PSX) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,849 shares of the oil and gas company’s stock after buying an additional 410 shares during the period. Wedbush Securities Inc.’s holdings in Phillips 66 were worth $1,891,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PSX. WealthTrust Axiom LLC lifted its position in shares of Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock worth $894,000 after acquiring an additional 81 shares during the period. Wolff Wiese Magana LLC raised its stake 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 in the last quarter. Magnus Financial Group LLC lifted its position in Phillips 66 by 2.8% in the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after purchasing an additional 84 shares during the period. Biltmore Wealth Management LLC boosted its stake in Phillips 66 by 2.4% during the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after buying an additional 85 shares in the last quarter. Finally, XML Financial LLC increased its holdings in Phillips 66 by 0.5% in the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after buying an additional 85 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value 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 $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the transaction, the director owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $137.80 on Friday. The firm has a market cap of $55.52 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 1.81 and a beta of 1.08. The company has a 50 day moving average of $133.20 and a 200-day moving average of $124.81. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period in the previous year, the business earned $2.04 EPS. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 131.15%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PSX shares. Morgan Stanley raised their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Citigroup lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their price target for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. UBS Group lifted their price objective on Phillips 66 from $150.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Evercore ISI upped their price objective on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Finally, Barclays raised their target price on Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, Phillips 66 currently has an average rating of “Hold” and an average price target of $143.56.

Phillips 66 Company 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.