Strategic Investment Solutions Inc. IL Boosts Holdings in Phillips 66 (NYSE:PSX)

Strategic Investment Solutions Inc. IL grew its position in shares of Phillips 66 (NYSE:PSX) by 75.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 612 shares of the oil and gas company’s stock after purchasing an additional 263 shares during the period. Strategic Investment Solutions Inc. IL’s holdings in Phillips 66 were worth $80,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the first quarter worth $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the first quarter worth $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 in the second quarter worth $26,000. nVerses Capital LLC acquired a new position in Phillips 66 in the third quarter worth $26,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Phillips 66 in the first quarter worth $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Scotiabank decreased 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 report on Thursday, October 10th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Barclays reduced their price objective 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. TD Cowen reduced their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

Phillips 66 Stock Up 1.2 %

NYSE:PSX traded up $1.49 during trading hours on Friday, hitting $129.98. 166,189 shares of the stock traded hands, compared to its average volume of 2,663,114. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $54.41 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 5.61 and a beta of 1.33. The firm has a 50 day moving average price of $132.85 and a 200 day moving average price of $139.57.

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

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 39.45%.

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.