MONECO Advisors LLC Buys 641 Shares of Phillips 66 (NYSE:PSX)

MONECO Advisors LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 11.8% in the 4th quarter, Holdings Channel reports. The firm owned 6,062 shares of the oil and gas company’s stock after purchasing an additional 641 shares during the quarter. MONECO Advisors LLC’s holdings in Phillips 66 were worth $807,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Cornerstone Planning Group LLC raised its position in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at about $36,000. Bell Investment Advisors Inc grew its stake in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 138 shares during the period. West Branch Capital LLC grew its stake in shares of Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares during the period. Finally, Headinvest LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at about $51,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSX. JPMorgan Chase & Co. raised their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Scotiabank lifted their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Piper Sandler lifted their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Citigroup started coverage on Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating for the company. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Trading Up 0.0 %

NYSE:PSX opened at $143.22 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $61.27 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The firm’s 50 day moving average is $155.74 and its 200 day moving average is $137.75. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last posted 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 period last year, the firm posted $4.21 EPS. Sell-side analysts expect that Phillips 66 will post 13.77 earnings per share for the current year.

Phillips 66 Increases Dividend

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

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

About Phillips 66

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.