14,210 Shares in Phillips 66 $PSX Purchased by AXQ Capital LP

Key Points

• AXQ Capital LP initiated a new position in Phillips 66, buying 14,210 shares valued at about $1.83 million in the fourth quarter.
• Institutional interest in PSX remains strong, with 76.93% of the stock owned by institutions and hedge funds, while several firms recently increased their stakes.
• Analysts are broadly constructive on the stock: Phillips 66 has a Moderate Buy consensus rating, with an average price target of $191.28, while the shares recently traded around $180.06.

AXQ Capital LP purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,210 shares of the oil and gas company's stock, valued at approximately $1,834,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. Oppenheimer & Co. Inc. raised its stake in Phillips 66 by 57.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company's stock worth $7,734,000 after purchasing an additional 20,742 shares during the period. First National Bank of Omaha purchased a new position in Phillips 66 during the third quarter worth about $2,357,000. TD Asset Management Inc raised its stake in shares of Phillips 66 by 15.5% in the 3rd quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company's stock valued at $23,724,000 after acquiring an additional 23,364 shares during the period. Caprock Group LLC purchased a new stake in shares of Phillips 66 in the 3rd quarter valued at approximately $2,412,000. Finally, National Pension Service raised its stake in shares of Phillips 66 by 3.5% in the 3rd quarter. National Pension Service now owns 602,099 shares of the oil and gas company's stock valued at $81,898,000 after acquiring an additional 20,213 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. Tudor Pickering raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Scotiabank boosted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Argus boosted their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Finally, Jefferies Financial Group boosted their price target on shares of Phillips 66 from $173.00 to $191.00 and gave the company a "hold" rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Phillips 66 Trading Up 2.4%

NYSE PSX opened at $180.06 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52 week low of $111.19 and a 52 week high of $190.61. The stock has a market capitalization of $72.19 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68. The firm has a 50 day moving average of $172.41 and a two-hundred day moving average of $155.05.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion during the quarter, compared to analysts' expectations of $35.86 billion. During the same quarter in the previous year, the business posted ($0.90) EPS. The firm's revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $1.27 dividend. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. Phillips 66's dividend payout ratio is presently 50.05%.

Insider Activity at Phillips 66

In related news, EVP Brian Mandell sold 42,800 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the sale, the executive vice president owned 61,595 shares in the company, valued at $10,442,200.35. This represents a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares of the company's stock, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 114,029 shares of company stock worth $19,641,455. Corporate insiders own 0.40% of the company's stock.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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