Waldron Private Wealth LLC Buys 175 Shares of Phillips 66 (NYSE:PSX)

Waldron Private Wealth LLC grew its stake in Phillips 66 (NYSE:PSX) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,079 shares of the oil and gas company’s stock after purchasing an additional 175 shares during the quarter. Waldron Private Wealth LLC’s holdings in Phillips 66 were worth $668,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PSX. Vanguard Group Inc. increased its position in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after buying an additional 1,578,669 shares during the last quarter. Bank of New York Mellon Corp increased its position in Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares during the last quarter. Boston Partners increased its position in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Legal & General Group Plc increased its position in Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after buying an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after purchasing an additional 111,261 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.1 %

Shares of PSX stock opened at $131.43 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $133.02 and a two-hundred day moving average price of $139.65. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market cap of $55.01 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 5.68 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the company posted $3.87 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Phillips 66 will post 7.81 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is currently 39.45%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent research reports. Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Barclays reduced their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company reduced their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $149.50.

Phillips 66 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.