Gladstone Institutional Advisory LLC Increases Stock Position in Phillips 66 (NYSE:PSX)

Gladstone Institutional Advisory LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 15.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,194 shares of the oil and gas company’s stock after purchasing an additional 3,809 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Phillips 66 were worth $3,838,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 during the 1st quarter valued at $26,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. nVerses Capital LLC bought a new position in Phillips 66 during the third quarter valued at about $26,000. Finally, Bank & Trust Co purchased a new stake in Phillips 66 during the second quarter worth about $31,000. 76.93% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents 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 accessible through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PSX shares. Wolfe Research initiated coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.42.

Phillips 66 Price Performance

Shares of PSX traded down $0.15 during midday trading on Friday, reaching $121.67. The stock had a trading volume of 618,467 shares, compared to its average volume of 2,668,469. The company has a market capitalization of $50.25 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $110.54 and a 12-month high of $174.08. The company’s 50-day moving average is $131.58 and its 200 day moving average is $138.09.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.63 EPS. On average, equities analysts predict that Phillips 66 will post 7.75 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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 issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.78%. Phillips 66’s dividend payout ratio is currently 59.05%.

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.