Phillips 66 (NYSE:PSX) Shares Purchased by Western Financial Corp CA

Western Financial Corp CA raised its stake in shares of Phillips 66 (NYSE:PSX) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,882 shares of the oil and gas company’s stock after acquiring an additional 91 shares during the period. Western Financial Corp CA’s holdings in Phillips 66 were worth $773,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PSX. MV Capital Management Inc. boosted its position in shares of Phillips 66 by 9.6% during the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after buying an additional 73 shares during the period. Mitchell & Pahl Private Wealth LLC grew its position in Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after acquiring an additional 74 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the period. Claro Advisors LLC lifted its position in shares of Phillips 66 by 4.5% during the first quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after purchasing an additional 75 shares in the last quarter. Finally, Advisory Alpha LLC boosted its stake in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 76 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of research reports. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a report on Thursday. Raymond James lifted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Bank of America began coverage on Phillips 66 in a research note on Thursday. They set a “buy” rating and a $156.00 target price for the company. TD Cowen reduced their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

Phillips 66 Trading Down 1.0 %

NYSE:PSX traded down $1.33 during trading hours on Monday, reaching $131.27. 659,512 shares of the company were exchanged, compared to its average volume of 2,677,203. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a market cap of $55.65 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 5.75 and a beta of 1.33. The stock has a 50 day simple moving average of $133.18 and a 200 day simple moving average of $140.20. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating 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 business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the company posted $3.87 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. As a group, analysts predict that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

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.