Atomi Financial Group Inc. Acquires 80 Shares of Phillips 66 (NYSE:PSX)

Atomi Financial Group Inc. raised its position in Phillips 66 (NYSE:PSX) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,452 shares of the oil and gas company’s stock after buying an additional 80 shares during the period. Atomi Financial Group Inc.’s holdings in Phillips 66 were worth $890,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter valued at $28,000. Ruedi Wealth Management Inc. boosted its holdings in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 96 shares during the period. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter worth $27,000. Finally, First United Bank & Trust bought a new stake in shares of Phillips 66 during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 1.0 %

Shares of PSX stock traded up $1.42 during mid-day trading on Monday, reaching $140.06. The stock had a trading volume of 735,092 shares, compared to its average volume of 2,716,621. The stock’s 50-day moving average price is $140.40 and its two-hundred day moving average price is $145.16. Phillips 66 has a 52-week low of $98.89 and a 52-week high of $174.08. The firm has a market capitalization of $59.38 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.34. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the previous year, the firm posted $4.21 EPS. Equities analysts expect that Phillips 66 will post 10.47 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s payout ratio is 35.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PSX shares. Argus reaffirmed a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Scotiabank dropped their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday. Barclays lowered their price target on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Finally, TD Cowen lowered their price target on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Five 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 currently has a consensus rating of “Moderate Buy” and an average target price of $155.86.

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.