611,039 Shares in Phillips 66 $PSX Purchased by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 611,039 shares of Phillips 66, valued at approximately $72.9 million, representing about 0.15% of the company's stock.
• Insider trading activity includes EVP Vanessa Allen Sutherland selling 4,393 shares, reducing her ownership by 10.13%, while Director Sigmund L. Cornelius purchased 500 shares, increasing his ownership by 2.38%.
• Phillips 66 declared a quarterly dividend of $1.20 per share, translating to an annualized dividend yield of 3.7% with a payout ratio of 115.38%.

Kingstone Capital Partners Texas LLC purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 611,039 shares of the oil and gas company's stock, valued at approximately $72,897,000. Kingstone Capital Partners Texas LLC owned approximately 0.15% of Phillips 66 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Elliott Investment Management L.P. raised its position in Phillips 66 by 1,929.0% in 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 purchasing an additional 14,950,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Phillips 66 by 20.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock valued at $19,625,000 after purchasing an additional 26,825 shares in the last quarter. Alta Advisers Ltd acquired a new stake in Phillips 66 in the 1st quarter valued at about $253,000. Sustainable Insight Capital Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $1,457,000. Finally, Evergreen Wealth Solutions LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $292,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Insiders Place Their Bets

In other news, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sigmund L. Cornelius acquired 500 shares of Phillips 66 stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares of the company's stock, valued at $2,661,637.65. The trade was a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 9,850 shares of company stock valued at $1,188,910 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

NYSE:PSX traded down $1.96 during mid-day trading on Friday, reaching $129.39. 9,244,717 shares of the stock were exchanged, compared to its average volume of 2,133,701. The company has a 50 day simple moving average of $127.04 and a 200-day simple moving average of $119.78. The stock has a market capitalization of $52.29 billion, a P/E ratio of 31.10, a P/E/G ratio of 1.86 and a beta of 1.15. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. 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 released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter last year, the business posted $2.31 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Morgan Stanley increased their price objective on Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Cantor Fitzgerald assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Citigroup downgraded Phillips 66 from a "buy" rating to a "neutral" rating and increased their price objective for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Finally, Evercore ISI increased their price objective on Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $138.94.

Phillips 66 Company Profile

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.