Aptus Capital Advisors LLC Acquires 13,592 Shares of Phillips 66 $PSX

Key Points

• Aptus Capital Advisors LLC increased its holdings in Phillips 66 by 52.8% in Q1, owning 39,321 shares valued at approximately $4.86 million.
• 76.93% of Phillips 66's stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Phillips 66 recently reported quarterly earnings of $2.38 per share, exceeding analyst expectations, with a total revenue of $33.77 billion.

Aptus Capital Advisors LLC lifted its position in Phillips 66 (NYSE:PSX - Free Report) by 52.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,321 shares of the oil and gas company's stock after purchasing an additional 13,592 shares during the quarter. Aptus Capital Advisors LLC's holdings in Phillips 66 were worth $4,855,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PSX. Brighton Jones LLC grew its position in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Jump Financial LLC purchased a new position in Phillips 66 in the fourth quarter worth $316,000. First Trust Advisors LP grew its position in Phillips 66 by 32.5% in the fourth quarter. First Trust Advisors LP now owns 360,685 shares of the oil and gas company's stock worth $41,093,000 after acquiring an additional 88,511 shares in the last quarter. MML Investors Services LLC grew its position in Phillips 66 by 0.7% in the fourth quarter. MML Investors Services LLC now owns 226,368 shares of the oil and gas company's stock worth $25,790,000 after acquiring an additional 1,529 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in Phillips 66 by 28.6% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,007 shares of the oil and gas company's stock worth $115,000 after acquiring an additional 224 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Insiders Place Their Bets

In other Phillips 66 news, Director Michael A. Heim acquired 1,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the transaction, the director directly owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares in the company, valued at $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 9,850 shares of company stock valued at $1,188,910. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

PSX has been the subject of several analyst reports. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Argus upgraded shares of Phillips 66 to a "strong-buy" rating in a report on Thursday, July 31st. TD Cowen increased their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Cantor Fitzgerald began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating for the company. Finally, Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $136.20.

Phillips 66 Stock Performance

NYSE:PSX traded up $5.3520 during trading hours on Friday, reaching $129.8020. The company had a trading volume of 2,674,005 shares, compared to its average volume of 2,228,690. The firm's 50 day moving average price is $124.31 and its 200-day moving average price is $119.02. The firm has a market cap of $52.46 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 1.76 and a beta of 1.09. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.85. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $32.11 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. On average, analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, August 19th. Phillips 66's payout ratio is presently 115.38%.

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.