Parisi Gray Wealth Management Trims Position in Phillips 66 (NYSE:PSX)

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Parisi Gray Wealth Management lessened its holdings in Phillips 66 (NYSE:PSX) by 3.2% during the 1st quarter, Holdings Channel reports. The firm owned 5,041 shares of the oil and gas company’s stock after selling 164 shares during the period. Parisi Gray Wealth Management’s holdings in Phillips 66 were worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. AdvisorNet Financial Inc lifted its stake in Phillips 66 by 9.7% in the first quarter. AdvisorNet Financial Inc now owns 8,128 shares of the oil and gas company’s stock worth $774,000 after acquiring an additional 722 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Phillips 66 by 8.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 459,605 shares of the oil and gas company’s stock worth $43,741,000 after acquiring an additional 37,550 shares during the period. SRB Corp lifted its stake in Phillips 66 by 25.7% in the first quarter. SRB Corp now owns 7,504 shares of the oil and gas company’s stock worth $714,000 after acquiring an additional 1,534 shares during the period. Monetary Management Group Inc. lifted its stake in Phillips 66 by 57.4% in the first quarter. Monetary Management Group Inc. now owns 7,677 shares of the oil and gas company’s stock worth $731,000 after acquiring an additional 2,800 shares during the period. Finally, Baltimore Capital Management Inc. purchased a new stake in Phillips 66 in the first quarter worth about $2,148,000. Institutional investors own 70.12% of the company’s stock.

In related news, Director John E. Lowe acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $82.91 per share, for a total transaction of $165,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Shares of PSX stock traded up $0.06 during mid-day trading on Friday, hitting $85.30. 522,984 shares of the stock traded hands, compared to its average volume of 2,594,174. The firm has a market cap of $37.76 billion, a price-to-earnings ratio of 7.28, a PEG ratio of 1.36 and a beta of 0.99. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $123.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. The business had revenue of $23.66 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same period in the prior year, the firm posted $1.04 earnings per share. As a group, equities analysts predict that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $3.60 annualized dividend and a dividend yield of 4.22%. This is an increase from Phillips 66’s previous quarterly dividend of $0.80. Phillips 66’s dividend payout ratio is 30.74%.

PSX has been the subject of a number of research reports. ValuEngine raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Friday, May 17th. Morgan Stanley lowered their price objective on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a research note on Friday, May 17th. Jefferies Financial Group lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and increased their price target for the company from $105.00 to $107.00 in a research report on Monday, April 15th. Citigroup increased their price target on shares of Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, Argus decreased their price target on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a research report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $118.73.

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Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

Further Reading: Return On Assets

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

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