Founders Financial Securities LLC Takes $522,000 Position in Phillips 66 (NYSE:PSX)

Founders Financial Securities LLC acquired a new position in Phillips 66 (NYSE:PSX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,193 shares of the oil and gas company’s stock, valued at approximately $522,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $27,000. First United Bank & Trust bought a new position in shares of Phillips 66 in the fourth quarter worth $31,000. Signature Resources Capital Management LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at $33,000. Bruce G. Allen Investments LLC purchased a new stake in Phillips 66 during the 4th quarter worth about $36,000. Finally, Gladius Capital Management LP purchased a new position in Phillips 66 during the 4th quarter valued at about $36,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler cut their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Barclays decreased their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Finally, Mizuho dropped their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $157.79.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 1.3 %

Shares of NYSE:PSX traded up $1.77 during trading on Friday, hitting $141.17. The stock had a trading volume of 10,211,532 shares, compared to its average volume of 2,338,853. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12 month low of $93.40 and a 12 month high of $174.08. The company has a market capitalization of $59.85 billion, a PE ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.37. The firm’s fifty day moving average is $142.91 and its 200 day moving average is $144.70.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the business posted $4.21 EPS. Analysts anticipate that Phillips 66 will post 11.08 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 35.38%.

About Phillips 66

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.