Net Worth Advisory Group Purchases New Position in Phillips 66 (NYSE:PSX)

Net Worth Advisory Group acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,669 shares of the oil and gas company’s stock, valued at approximately $745,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $25,000. Keener Financial Planning LLC purchased a new position in shares of Phillips 66 during the first quarter worth $26,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 in the 2nd quarter valued at about $26,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $26,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Phillips 66 during the 1st quarter worth $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSX shares. Wells Fargo & Company dropped their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Bank of America initiated coverage on Phillips 66 in a report on Thursday. They issued a “buy” rating and a $156.00 price objective on the stock. Barclays cut their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. TD Cowen lowered their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

Phillips 66 Stock Performance

NYSE:PSX opened at $132.60 on Friday. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The firm’s 50 day moving average is $133.18 and its two-hundred day moving average is $140.63. The company has a market cap of $55.50 billion, a P/E ratio of 11.37, a P/E/G ratio of 5.75 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same quarter last year, the firm posted $3.87 earnings per share. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts expect that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.47%. Phillips 66’s payout ratio is currently 39.45%.

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.