Alpine Woods Capital Investors LLC Increases Holdings in Phillips 66 $PSX

Key Points

• Alpine Woods Capital Investors LLC increased its holdings in Phillips 66 by 256.7%, acquiring an additional 6,411 shares, bringing its total to 8,908 shares valued at approximately $1,063,000.
• Phillips 66 recently reported a quarterly earnings per share of $2.38, surpassing the consensus estimate of $1.79, while also announcing a quarterly dividend of $1.20 per share with a yield of 3.7%.
• Phillips 66 has received multiple analyst upgrades, with target prices raised by firms such as Piper Sandler and Jefferies Financial Group, reflecting a consensus rating of "Moderate Buy".

Alpine Woods Capital Investors LLC lifted its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 256.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,908 shares of the oil and gas company's stock after acquiring an additional 6,411 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Phillips 66 were worth $1,063,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PSX. Brighton Jones LLC lifted its stake in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after buying an additional 7,214 shares in the last quarter. GAMMA Investing LLC lifted its stake in Phillips 66 by 15.2% in the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company's stock valued at $1,190,000 after buying an additional 1,268 shares in the last quarter. Tritonpoint Wealth LLC purchased a new stake in Phillips 66 in the 1st quarter valued at approximately $252,000. Wealth Enhancement Advisory Services LLC lifted its stake 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 buying an additional 26,825 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in Phillips 66 by 42.9% in the 1st quarter. Hennessy Advisors Inc. now owns 5,000 shares of the oil and gas company's stock valued at $617,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSX. Piper Sandler upped their target price on Phillips 66 from $154.00 to $155.00 and gave the company a "neutral" rating in a research note on Monday, September 29th. Jefferies Financial Group upped their target price on Phillips 66 from $133.00 to $137.00 and gave the company a "hold" rating in a research note on Friday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Compass Point assumed coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Finally, Cantor Fitzgerald assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.75.

Phillips 66 Trading Up 2.4%

Shares of PSX opened at $129.82 on Tuesday. The stock has a fifty day moving average of $129.67 and a two-hundred day moving average of $120.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market capitalization of $52.46 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35.

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

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66's dividend payout ratio is presently 115.38%.

Insider Transactions at Phillips 66

In other news, Director Sigmund L. Cornelius acquired 500 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory Hayes acquired 8,350 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price 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 approximately $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 9,850 shares of company stock valued at $1,188,910. Corporate insiders own 0.22% of the company's stock.

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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