Edmonds Duncan Registered Investment Advisors LLC Invests $217,000 in Phillips 66 (NYSE:PSX)

Edmonds Duncan Registered Investment Advisors LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,330 shares of the oil and gas company’s stock, valued at approximately $217,000.

Several other large investors have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth $27,000. First United Bank & Trust bought a new position in Phillips 66 during the fourth quarter valued at about $31,000. Rise Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter worth about $40,000. Signature Resources Capital Management LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at about $36,000. Institutional investors own 76.93% of the company’s stock.

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 on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $0.17 during trading on Tuesday, reaching $141.10. The company had a trading volume of 465,265 shares, compared to its average volume of 2,764,956. The stock has a market cap of $59.82 billion, a PE ratio of 10.84, a PEG ratio of 2.12 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The business’s 50 day moving average price is $142.91 and its 200-day moving average price is $144.83. Phillips 66 has a 52 week low of $94.51 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the previous year, the company posted $4.21 earnings per share. Analysts expect that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

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

Wall Street Analyst Weigh In

PSX has been the topic of several analyst reports. Argus reiterated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. TD Cowen cut their price objective on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Piper Sandler dropped their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. The Goldman Sachs Group increased their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Scotiabank increased their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

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.