Biltmore Wealth Management LLC Makes New $479,000 Investment in Phillips 66 (NYSE:PSX)

Biltmore Wealth Management LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 3,396 shares of the oil and gas company’s stock, valued at approximately $479,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of Phillips 66 in the first quarter worth $25,000. Keener Financial Planning LLC purchased a new position in shares of Phillips 66 during the first quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 in the fourth quarter worth about $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter worth about $28,000. Finally, First United Bank & Trust bought a new position in Phillips 66 during the fourth quarter valued at approximately $31,000. 76.93% of the stock is owned by institutional investors.

Insider Activity at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Scotiabank reduced their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Piper Sandler decreased their price target 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. Argus reissued a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Mizuho reduced their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, Barclays increased their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.38.

Phillips 66 Trading Down 0.0 %

Shares of PSX traded down $0.01 during mid-day trading on Friday, reaching $135.41. 2,056,891 shares of the company’s stock traded hands, compared to its average volume of 2,226,319. 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 stock’s 50-day moving average is $138.26 and its two-hundred day moving average is $146.09. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The stock has a market cap of $56.68 billion, a P/E ratio of 10.42, a P/E/G ratio of 2.33 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $3.87 EPS. Research analysts forecast that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.40%. Phillips 66’s dividend payout ratio is currently 35.38%.

Phillips 66 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.