AA Financial Advisors LLC Raises Holdings in Phillips 66 (NYSE:PSX)

AA Financial Advisors LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,841 shares of the oil and gas company’s stock after acquiring an additional 381 shares during the quarter. AA Financial Advisors LLC’s holdings in Phillips 66 were worth $636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MJP Associates Inc. ADV bought a new stake in shares of Phillips 66 in the first quarter valued at approximately $247,000. Douglas Lane & Associates LLC bought a new stake in Phillips 66 during the 1st quarter valued at $320,000. Cooper Financial Group lifted its position in shares of Phillips 66 by 10.4% during the first quarter. Cooper Financial Group now owns 1,745 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 164 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Phillips 66 by 3.9% in the first quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company’s stock worth $476,000 after acquiring an additional 110 shares during the period. Finally, Southland Equity Partners LLC raised its stake in shares of Phillips 66 by 16.1% during the 1st quarter. Southland Equity Partners LLC now owns 2,360 shares of the oil and gas company’s stock valued at $385,000 after purchasing an additional 328 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Down 0.6 %

Shares of PSX opened at $132.60 on Friday. Phillips 66 has a 1 year low of $107.85 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 stock has a 50 day simple moving average of $133.18 and a two-hundred day simple moving average of $140.43. The firm has a market cap of $56.22 billion, a P/E ratio of 10.20, a P/E/G ratio of 5.75 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion for 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 quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.87 EPS. On average, analysts forecast that Phillips 66 will post 7.85 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, 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 the SEC website. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on PSX shares. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Barclays cut their price target on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Mizuho dropped their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.50.

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.