Counterweight Ventures LLC Boosts Stock Position in Phillips 66 (NYSE:PSX)

Counterweight Ventures LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,785 shares of the oil and gas company’s stock after purchasing an additional 677 shares during the quarter. Counterweight Ventures LLC’s holdings in Phillips 66 were worth $1,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSX. Crewe Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $25,000. Keener Financial Planning LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $28,000. Ruedi Wealth Management Inc. grew its position 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 acquiring an additional 96 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $27,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was 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 of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.6 %

Shares of PSX stock opened at $128.14 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The stock has a fifty day moving average of $137.16 and a two-hundred day moving average of $144.85. The firm has a market capitalization of $54.33 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $37.79 billion. During the same quarter in the previous year, the business earned $3.87 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts expect that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Raymond James lifted their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wolfe Research started coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. TD Cowen boosted their price objective on Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $157.85.

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.