Trajan Wealth LLC Purchases 3,839 Shares of Phillips 66 (NYSE:PSX)

Trajan Wealth LLC increased its position in Phillips 66 (NYSE:PSX) by 12.2% during the 3rd quarter, Holdings Channel reports. The firm owned 35,217 shares of the oil and gas company’s stock after acquiring an additional 3,839 shares during the quarter. Trajan Wealth LLC’s holdings in Phillips 66 were worth $4,629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in Phillips 66 in the first quarter worth approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the first quarter worth approximately $26,000. Strategic Financial Concepts LLC bought a new position in Phillips 66 in the second quarter worth approximately $26,000. nVerses Capital LLC bought a new position in Phillips 66 in the third quarter worth approximately $26,000. Finally, Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter worth approximately $28,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $123.29 on Wednesday. Phillips 66 has a 12 month low of $109.86 and a 12 month high of $174.08. The stock has a fifty day moving average price of $132.04 and a 200-day moving average price of $138.32. 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 $51.61 billion, a PE ratio of 10.57, a P/E/G ratio of 5.47 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $4.63 EPS. Equities research analysts predict that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.73%. Phillips 66’s payout ratio is currently 39.45%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. TD Cowen dropped their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company dropped their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley dropped their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.50.

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.