Phillips 66 (NYSE:PSX) Stock Position Lowered by Stegent Equity Advisors Inc.

Stegent Equity Advisors Inc. lowered its holdings in Phillips 66 (NYSE:PSX) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,702 shares of the oil and gas company’s stock after selling 93 shares during the period. Stegent Equity Advisors Inc.’s holdings in Phillips 66 were worth $759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cardinal Capital Management increased its holdings in shares of Phillips 66 by 0.3% during the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after acquiring an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in Phillips 66 by 3.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 82 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of Phillips 66 by 1.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after purchasing an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Phillips 66 by 0.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock worth $2,958,000 after purchasing an additional 90 shares during the last quarter. Finally, West Branch Capital LLC boosted its stake in Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 in the last ninety days. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

Shares of PSX traded down $8.38 during trading hours on Tuesday, hitting $143.16. The company had a trading volume of 2,636,881 shares, compared to its average volume of 2,964,963. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The firm has a market cap of $61.25 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.83 and a beta of 1.37. The business has a fifty day moving average of $155.70 and a 200-day moving average of $137.52. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. During the same quarter in the previous year, the business posted $4.21 EPS. Equities analysts anticipate that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.21%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 32.31%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PSX shares. Piper Sandler upped their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Mizuho reduced their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Barclays cut their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Bank of America upped their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.