Mitchell & Pahl Private Wealth LLC Has $2.42 Million Stock Position in Phillips 66 (NYSE:PSX)

Mitchell & Pahl Private Wealth LLC boosted its stake in Phillips 66 (NYSE:PSX) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,407 shares of the oil and gas company’s stock after buying an additional 560 shares during the quarter. Phillips 66 makes up 1.1% of Mitchell & Pahl Private Wealth LLC’s investment portfolio, making the stock its 26th largest holding. Mitchell & Pahl Private Wealth LLC’s holdings in Phillips 66 were worth $2,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. MV Capital Management Inc. grew its stake in Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 73 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in Phillips 66 by 5.1% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after buying an additional 74 shares in the last quarter. Claro Advisors LLC lifted its holdings in shares of Phillips 66 by 4.5% in the first quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after buying an additional 75 shares in the last quarter. Advisory Alpha LLC grew its stake in Phillips 66 by 4.8% during the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after acquiring an additional 76 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 77 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Up 0.7 %

Shares of NYSE PSX traded up $0.90 during midday trading on Thursday, reaching $133.21. The company had a trading volume of 557,921 shares, compared to its average volume of 2,683,776. The stock has a market cap of $56.47 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 5.48 and a beta of 1.33. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The firm’s fifty day moving average price is $133.28 and its 200-day moving average price is $140.90. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last released 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. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the prior year, the firm posted $3.87 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that Phillips 66 will post 8.19 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. TD Cowen reduced their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Raymond James raised their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Mizuho cut their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $149.50.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s 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 transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by company insiders.

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.