Commonwealth Financial Services LLC Buys 111 Shares of Phillips 66 $PSX

Commonwealth Financial Services LLC boosted its stake in Phillips 66 (NYSE:PSX) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,090 shares of the oil and gas company’s stock after acquiring an additional 111 shares during the period. Commonwealth Financial Services LLC’s holdings in Phillips 66 were worth $249,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Elliott Investment Management L.P. raised its position in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after purchasing an additional 682,459 shares during the period. Invesco Ltd. raised its position in shares of Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after purchasing an additional 653,248 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Phillips 66 by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock valued at $466,886,000 after purchasing an additional 377,132 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Phillips 66 by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock valued at $383,197,000 after purchasing an additional 100,321 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $127.01 on Friday. The firm’s 50 day simple moving average is $129.51 and its 200 day simple moving average is $120.59. 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 firm has a market capitalization of $51.33 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35.

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

Phillips 66 Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is currently 115.38%.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes purchased 8,350 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’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 directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The disclosure for this sale can be found here. Insiders acquired 9,850 shares of company stock worth $1,188,910 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PSX has been the topic of several research reports. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price target for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Raymond James Financial boosted their price target on shares of Phillips 66 from $142.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. TD Cowen boosted their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Mizuho boosted their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.75.

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.