EP Wealth Advisors LLC Has $1.16 Million Stock Position in Phillips 66 (NYSE:PSX)

EP Wealth Advisors LLC lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 1.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,184 shares of the oil and gas company’s stock after selling 102 shares during the period. EP Wealth Advisors LLC’s holdings in Phillips 66 were worth $1,155,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PSX. Kimelman & Baird LLC bought a new position in shares of Phillips 66 during the 2nd quarter worth approximately $88,000. Regal Investment Advisors LLC lifted its holdings in Phillips 66 by 3.4% during the 2nd quarter. Regal Investment Advisors LLC now owns 10,869 shares of the oil and gas company’s stock valued at $1,534,000 after purchasing an additional 356 shares during the last quarter. Quarry LP boosted its position in Phillips 66 by 114.4% during the second quarter. Quarry LP now owns 22,149 shares of the oil and gas company’s stock worth $3,127,000 after purchasing an additional 11,820 shares during the period. Invst LLC boosted its position in Phillips 66 by 6.5% during the second quarter. Invst LLC now owns 6,056 shares of the oil and gas company’s stock worth $854,000 after purchasing an additional 367 shares during the period. Finally, Second Line Capital LLC increased its holdings in shares of Phillips 66 by 88.2% in the second quarter. Second Line Capital LLC now owns 3,091 shares of the oil and gas company’s stock valued at $436,000 after purchasing an additional 1,449 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.1 %

PSX opened at $134.45 on Thursday. The company has a market cap of $56.28 billion, a P/E ratio of 10.34, a PEG ratio of 5.28 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $133.97 and its 200-day moving average is $142.54. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $3.87 earnings per share. Equities research analysts predict that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.42%. Phillips 66’s dividend payout ratio is currently 35.38%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was 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 directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Mizuho reduced their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Raymond James boosted their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wolfe Research initiated coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Morgan Stanley reduced their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, TD Cowen lowered their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.71.

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.