2,497 Shares in Phillips 66 $PSX Bought by Trust Co. of Oklahoma

Key Points

• Trust Co. of Oklahoma has acquired a new stake in Phillips 66, purchasing 2,497 shares valued at approximately $298,000 in the second quarter.
• Several institutional investors, including Elliott Investment Management L.P. and Price T. Rowe Associates Inc., have significantly increased their stakes in Phillips 66 during the first quarter of the year.
• Phillips 66 reported earnings of $2.38 per share for the last quarter, surpassing analysts' estimates, and revealed a quarterly dividend of $1.20 per share, affirming its solid financial performance.

Trust Co. of Oklahoma purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,497 shares of the oil and gas company's stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSX. Elliott Investment Management L.P. boosted its stake in shares of Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock valued at $1,941,723,000 after buying an additional 14,950,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock valued at $828,442,000 after acquiring an additional 682,459 shares in the last quarter. Invesco Ltd. boosted its stake in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock valued at $588,489,000 after acquiring an additional 653,248 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Phillips 66 by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company's stock worth $466,886,000 after acquiring an additional 377,132 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Phillips 66 by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company's stock worth $383,197,000 after acquiring an additional 100,321 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX opened at $130.77 on Friday. The firm has a fifty day moving average of $126.95 and a 200-day moving average of $119.55. The company has a market cap of $52.85 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 2.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the previous year, the business posted $2.31 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio is 115.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PSX shares. Morgan Stanley increased their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Scotiabank reiterated a "sector perform" rating and issued a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and upped their price target for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Compass Point assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $136.40.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total transaction of $593,055.00. Following the sale, the executive vice president owned 38,980 shares of the company's stock, valued at $5,262,300. The trade was a 10.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president owned 56,838 shares of the company's stock, valued at $7,104,750. This trade represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 9,850 shares of company stock worth $1,188,910 and sold 18,586 shares worth $2,389,145. 0.22% of the stock is owned by insiders.

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.

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