AdvisorNet Financial Inc Grows Stake in Phillips 66 (NYSE:PSX)

AdvisorNet Financial Inc raised its stake in Phillips 66 (NYSE:PSXFree Report) by 26.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,275 shares of the oil and gas company’s stock after acquiring an additional 268 shares during the period. AdvisorNet Financial Inc’s holdings in Phillips 66 were worth $170,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its stake in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of Phillips 66 during the second quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $36,000. West Branch Capital LLC boosted its position in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares during the last quarter. Finally, Bell Investment Advisors Inc boosted its position in shares of Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 138 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PSX shares. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Raymond James increased their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Mizuho increased their target price on Phillips 66 from $135.00 to $167.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. Wells Fargo & Company increased their target price on Phillips 66 from $163.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Barclays increased their target price on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.31.

Get Our Latest Stock Report on PSX

Phillips 66 Stock Up 1.9 %

NYSE PSX opened at $172.75 on Thursday. The stock’s 50-day moving average price is $149.11 and its 200-day moving average price is $131.58. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $173.55. The company has a market capitalization of $73.91 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. On average, equities research analysts predict that Phillips 66 will post 12.85 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.66%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 27.15%.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,056 shares of company stock worth $5,272,681. 4.57% of the stock is owned by corporate insiders.

Phillips 66 Company Profile

(Free Report)

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.

Further Reading

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

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