Valmark Advisers Inc. Acquires 159 Shares of Phillips 66 (NYSE:PSX)

Valmark Advisers Inc. lifted its stake in Phillips 66 (NYSE:PSX) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,621 shares of the oil and gas company’s stock after purchasing an additional 159 shares during the period. Valmark Advisers Inc.’s holdings in Phillips 66 were worth $870,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter worth about $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 during the 1st quarter worth approximately $26,000. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 in the second quarter worth approximately $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter worth $26,000. Finally, Values First Advisors Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter valued at $30,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PSX shares. Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Finally, Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $151.00.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Trading Down 1.0 %

Shares of NYSE PSX opened at $122.05 on Thursday. Phillips 66 has a 1-year low of $110.54 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The business’s 50 day moving average is $131.80 and its two-hundred day moving average is $138.20. The stock has a market capitalization of $51.09 billion, a P/E ratio of 15.67, a PEG ratio of 5.47 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.63 EPS. As a group, research analysts expect that Phillips 66 will post 7.81 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 3.77%. Phillips 66’s dividend payout ratio is presently 59.05%.

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.