Nicholson Wealth Management Group LLC Purchases New Shares in Phillips 66 (NYSE:PSX)

by · The Markets Daily

Nicholson Wealth Management Group LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,110 shares of the oil and gas company’s stock, valued at approximately $672,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Crewe Advisors LLC bought a new position in Phillips 66 during the first quarter valued at $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 purchased a new position in Phillips 66 during the 2nd quarter worth $26,000. nVerses Capital LLC bought a new stake in Phillips 66 during the 3rd quarter valued at $26,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Barclays cut their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. TD Cowen lowered their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.50.

View Our Latest Analysis on PSX

Phillips 66 Price Performance

Shares of PSX stock opened at $128.49 on Friday. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The firm has a market capitalization of $53.78 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 5.61 and a beta of 1.33. The stock’s 50-day simple moving average is $132.85 and its 200-day simple moving average is $139.57.

Phillips 66 (NYSE:PSX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $3.87 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 39.45%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

About Phillips 66

(Free Report)

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.

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