Financial Advisory Service Inc. Boosts Stake in Phillips 66 (PSX)

Financial Advisory Service Inc. increased its stake in shares of Phillips 66 (NYSE:PSX) by 2.4% during the first quarter, Holdings Channel reports. The firm owned 3,433 shares of the oil and gas company’s stock after buying an additional 79 shares during the period. Financial Advisory Service Inc.’s holdings in Phillips 66 were worth $272,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Winch Advisory Services LLC boosted its stake in shares of Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,292 shares during the period. FTB Advisors Inc. boosted its stake in shares of Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 213 shares during the period. Barrett Asset Management LLC boosted its stake in shares of Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 50 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Phillips 66 by 3.1% in the first quarter. Quadrant Capital Group LLC now owns 2,048 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 61 shares during the period. Finally, Massmutual Trust Co. FSB ADV bought a new stake in shares of Phillips 66 during the fourth quarter valued at about $158,000. Institutional investors and hedge funds own 69.99% of the company’s stock.

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

Phillips 66 (NYSE PSX) opened at 80.27 on Friday. The firm has a market capitalization of $41.43 billion, a P/E ratio of 24.91 and a beta of 1.27. Phillips 66 has a 12 month low of $73.67 and a 12 month high of $88.87. The firm’s 50-day moving average is $78.60 and its 200 day moving average is $80.50.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 28th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.53. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. The company had revenue of $23.71 billion during the quarter, compared to the consensus estimate of $22.30 billion. During the same period in the previous year, the firm posted $0.67 EPS. On average, analysts expect that Phillips 66 will post $4.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were issued a dividend of $0.70 per share. This is an increase from Phillips 66’s previous quarterly dividend of $0.63. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Tuesday, May 16th. Phillips 66’s payout ratio is currently 86.96%.

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PSX has been the subject of several recent research reports. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, April 28th. US Capital Advisors reiterated a “buy” rating on shares of Phillips 66 in a research note on Monday, May 22nd. Jefferies Group LLC set a $74.00 price target on Phillips 66 and gave the company a “hold” rating in a research note on Saturday, June 3rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $87.00 price target on shares of Phillips 66 in a research note on Thursday, April 20th. Finally, Scotiabank reiterated a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a research note on Monday, March 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $84.86.

Phillips 66 Company Profile

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

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