Impact Partnership Wealth LLC Purchases 378 Shares of Phillips 66 (NYSE:PSX)

Impact Partnership Wealth LLC lifted its position in Phillips 66 (NYSE:PSX) by 7.2% in the third quarter, HoldingsChannel.com reports. The firm owned 5,651 shares of the oil and gas company’s stock after acquiring an additional 378 shares during the period. Impact Partnership Wealth LLC’s holdings in Phillips 66 were worth $743,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in Phillips 66 in the 1st quarter valued at $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 in the second quarter valued at about $26,000. nVerses Capital LLC acquired a new position in Phillips 66 in the third quarter worth about $26,000. Finally, Redmont Wealth Advisors LLC bought a new position in Phillips 66 during the first quarter worth about $28,000. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.3 %

NYSE:PSX traded down $0.37 on Thursday, reaching $128.75. The company’s stock had a trading volume of 66,493 shares, compared to its average volume of 2,660,024. The firm has a market cap of $54.58 billion, a PE ratio of 9.93, a PEG ratio of 5.68 and a beta of 1.33. 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 business’s 50-day moving average price is $132.85 and its two-hundred day moving average price is $139.57. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.87 EPS. Equities research analysts anticipate that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.57%. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Ratings Changes

PSX has been the subject of a number of recent analyst reports. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. Mizuho decreased their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their target price on 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 decreased 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. Finally, Scotiabank dropped their price objective 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. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.50.

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.