Vanguard Capital Wealth Advisors Grows Holdings in Phillips 66 (NYSE:PSX)

Vanguard Capital Wealth Advisors grew its stake in shares of Phillips 66 (NYSE:PSX) by 38.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,797 shares of the oil and gas company’s stock after purchasing an additional 1,597 shares during the quarter. Vanguard Capital Wealth Advisors’ holdings in Phillips 66 were worth $818,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PSX. Norges Bank bought a new position in Phillips 66 in the 4th quarter worth about $559,435,000. Bank of New York Mellon Corp increased its holdings in Phillips 66 by 38.0% during the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after purchasing an additional 2,209,043 shares during the period. Wellington Management Group LLP raised its position in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares in the last quarter. Boston Partners lifted its holdings in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after buying an additional 1,578,669 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 1.5 %

Phillips 66 stock opened at $125.00 on Thursday. 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 firm has a market cap of $52.99 billion, a PE ratio of 9.62, a P/E/G ratio of 2.31 and a beta of 1.33. The stock’s 50 day simple moving average is $136.32 and its two-hundred day simple moving average is $144.45. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.87 earnings per share. Analysts anticipate that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.68%. 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 shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Piper Sandler dropped their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday. Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $156.92.

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.