Eads & Heald Wealth Management Sells 215 Shares of Phillips 66 (NYSE:PSX)

Eads & Heald Wealth Management lowered its stake in shares of Phillips 66 (NYSE:PSX) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,941 shares of the oil and gas company’s stock after selling 215 shares during the quarter. Eads & Heald Wealth Management’s holdings in Phillips 66 were worth $258,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PSX. First Capital Advisors Group LLC. bought a new stake in Phillips 66 during the second quarter worth $25,000. Cornerstone Planning Group LLC grew its holdings in Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares in the last quarter. Worth Asset Management LLC bought a new stake in Phillips 66 during the first quarter worth $32,000. Bruce G. Allen Investments LLC bought a new position in Phillips 66 in the 4th quarter valued at $36,000. Finally, Bell Investment Advisors Inc grew its stake in Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of recent analyst reports. Raymond James upped their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group upped their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Barclays upped their price objective on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a research note on Monday, February 5th. Piper Sandler increased their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and twelve have issued 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 $156.86.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Pease acquired 682 shares of the stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 in the last quarter. 0.22% of the stock is owned by company insiders.

Phillips 66 Trading Down 1.4 %

Shares of PSX stock traded down $2.33 during trading hours on Tuesday, reaching $158.49. The company’s stock had a trading volume of 221,767 shares, compared to its average volume of 3,016,306. The stock has a market capitalization of $67.81 billion, a P/E ratio of 10.40, a P/E/G ratio of 2.05 and a beta of 1.37. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The firm’s fifty day simple moving average is $153.64 and its 200 day simple moving average is $134.51. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The firm had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. Equities research analysts expect that Phillips 66 will post 13.2 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is presently 27.15%.

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.