Ashton Thomas Securities LLC Invests $138,000 in Phillips 66 (NYSE:PSX)

Ashton Thomas Securities LLC purchased a new position in Phillips 66 (NYSE:PSX) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 1,051 shares of the oil and gas company’s stock, valued at approximately $138,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter worth $25,000. Strategic Financial Concepts LLC bought a new position in Phillips 66 in the 2nd quarter worth about $26,000. nVerses Capital LLC purchased a new stake in Phillips 66 during the 3rd quarter valued at about $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 during the 3rd quarter valued at about $30,000. Finally, Bank & Trust Co purchased a new position in Phillips 66 in the second quarter worth about $31,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PSX. JPMorgan Chase & Co. reduced their price target on shares of 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 target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Wolfe Research started coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Five investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Down 0.2 %

PSX opened at $127.68 on Wednesday. The firm’s 50 day simple moving average is $129.87 and its two-hundred day simple moving average is $136.21. The company has a market capitalization of $52.73 billion, a PE ratio of 16.39, a PEG ratio of 4.12 and a beta of 1.33. Phillips 66 has a 1-year low of $111.90 and a 1-year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the firm earned $4.63 EPS. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities analysts forecast that Phillips 66 will post 7.68 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed 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 of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.60%. Phillips 66’s payout ratio is currently 59.05%.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

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.