Wealth Enhancement Advisory Services LLC Takes $1.73 Million Position in Phillips 66 (PSX)

Wealth Enhancement Advisory Services LLC purchased a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,503 shares of the oil and gas company’s stock, valued at approximately $1,732,000.

Other institutional investors have also made changes to their positions in the company. Beach Investment Management LLC. acquired a new position in shares of Phillips 66 during the second quarter worth about $1,693,000. Marshall Wace North America L.P. acquired a new position in shares of Phillips 66 during the second quarter worth about $309,000. Wayne Hummer Investments L.L.C. boosted its position in shares of Phillips 66 by 11.4% during the second quarter. Wayne Hummer Investments L.L.C. now owns 8,088 shares of the oil and gas company’s stock worth $669,000 after buying an additional 828 shares during the period. iAB Financial Bank boosted its position in shares of Phillips 66 by 5.2% during the second quarter. iAB Financial Bank now owns 10,966 shares of the oil and gas company’s stock worth $907,000 after buying an additional 540 shares during the period. Finally, Pax World Management LLC boosted its position in shares of Phillips 66 by 8.9% during the second quarter. Pax World Management LLC now owns 3,677 shares of the oil and gas company’s stock worth $304,000 after buying an additional 300 shares during the period. Institutional investors own 70.12% of the company’s stock.

In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares of the company’s stock, valued at $270,675. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Several research analysts have recently weighed in on the company. Barclays set a $95.00 price objective on Phillips 66 and gave the stock an “equal weight” rating in a research report on Tuesday, October 10th. Scotiabank reaffirmed a “buy” rating and set a $112.00 price objective on shares of Phillips 66 in a research report on Wednesday, January 10th. Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a research report on Monday, October 16th. Cowen reaffirmed a “buy” rating and set a $101.00 price objective on shares of Phillips 66 in a research report on Tuesday, October 17th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $98.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $96.66.

Phillips 66 (NYSE:PSX) opened at $105.63 on Friday. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $106.91. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $53,856.97, a P/E ratio of 30.34, a P/E/G ratio of 1.59 and a beta of 1.24.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The firm had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. equities analysts predict that Phillips 66 will post 4.36 EPS for the current fiscal year.

Phillips 66 announced that its board has initiated a share buyback plan on Monday, October 9th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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About Phillips 66

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.

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

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