Segment Wealth Management LLC Acquires 174 Shares of Phillips 66 (NYSE:PSX)

Segment Wealth Management LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,205 shares of the oil and gas company’s stock after purchasing an additional 174 shares during the period. Segment Wealth Management LLC’s holdings in Phillips 66 were worth $1,341,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. boosted its holdings in shares of Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 73 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in Phillips 66 by 0.4% during 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 buying an additional 74 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after buying an additional 74 shares in the last quarter. Claro Advisors LLC lifted its holdings in shares of Phillips 66 by 4.5% in the first quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after buying an additional 75 shares in the last quarter. Finally, Advisory Alpha LLC boosted its position 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 acquiring an additional 76 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PSX. Morgan Stanley cut their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Barclays dropped their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Scotiabank decreased 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. Wells Fargo & Company lowered their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, Mizuho decreased their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.50.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on 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 approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by insiders.

Phillips 66 Trading Up 0.1 %

NYSE:PSX opened at $131.43 on Wednesday. The firm has a market capitalization of $55.01 billion, a P/E ratio of 11.27, a P/E/G ratio of 5.68 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $133.02 and a 200 day moving average of $139.65.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same period last year, the firm earned $3.87 earnings per share. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts predict that Phillips 66 will post 7.81 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 39.45%.

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.