HCR Wealth Advisors Buys Shares of 3,033 Phillips 66 (NYSE:PSX)

HCR Wealth Advisors bought a new stake in Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,033 shares of the oil and gas company’s stock, valued at approximately $215,000.

Other large investors have also bought and sold shares of the company. Somerset Trust Co grew its stake in Phillips 66 by 6.5% in the second quarter. Somerset Trust Co now owns 20,556 shares of the oil and gas company’s stock valued at $1,478,000 after acquiring an additional 1,249 shares during the period. HNP Capital LLC acquired a new position in Phillips 66 in the second quarter valued at about $242,000. Busey Wealth Management acquired a new position in Phillips 66 in the second quarter valued at about $254,000. Raymond James Trust N.A. grew its stake in Phillips 66 by 16.5% in the first quarter. Raymond James Trust N.A. now owns 86,809 shares of the oil and gas company’s stock valued at $4,657,000 after acquiring an additional 12,290 shares during the period. Finally, Franklin Resources Inc. grew its stake in Phillips 66 by 19.4% in the fourth quarter. Franklin Resources Inc. now owns 246,917 shares of the oil and gas company’s stock valued at $27,509,000 after acquiring an additional 40,182 shares during the period. 66.79% of the stock is owned by hedge funds and other institutional investors.

In other news, Director John E. Lowe purchased 1,500 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was bought at an average cost of $68.43 per share, for a total transaction of $102,645.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Kramer Adams purchased 1,250 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was purchased at an average price of $76.40 per share, with a total value of $95,500.00. Following the completion of the purchase, the director now directly owns 10,213 shares in the company, valued at approximately $780,273.20. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 3,750 shares of company stock worth $268,305. Company insiders own 0.63% of the company’s stock.

PSX has been the subject of a number of research analyst reports. Zacks Investment Research raised Phillips 66 from a “strong sell” rating to a “hold” rating and set a $67.00 target price for the company in a research note on Wednesday, May 27th. Raymond James dropped their target price on Phillips 66 from $85.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Credit Suisse Group upped their target price on Phillips 66 from $72.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Monday, July 20th. Finally, Wells Fargo & Co lowered Phillips 66 from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a report on Wednesday, July 22nd. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $83.47.

Shares of PSX stock traded down $1.07 during trading hours on Friday, reaching $62.02. The company’s stock had a trading volume of 5,835,880 shares, compared to its average volume of 2,862,574. The firm’s 50 day simple moving average is $67.98 and its 200-day simple moving average is $73.22. The company has a market capitalization of $27.08 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 6.42 and a beta of 1.60. Phillips 66 has a fifty-two week low of $40.04 and a fifty-two week high of $119.92. The company has a quick ratio of 0.61, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.55). The business had revenue of $11.18 billion during the quarter, compared to analyst estimates of $14.92 billion. Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. During the same period in the prior year, the business posted $3.02 EPS. Sell-side analysts predict that Phillips 66 will post 1.83 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend is Monday, August 17th. Phillips 66’s dividend payout ratio is presently 44.72%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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