Arrowpoint Investment Partners Singapore Pte. Ltd. Acquires Shares of 3,840 Phillips 66 (NYSE:PSX)

Key Points

• Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Phillips 66 worth approximately $474,000, purchasing 3,840 shares during the first quarter.
• Several institutional investors, including Trajan Wealth LLC and Todd Asset Management LLC, have also increased their stakes in Phillips 66, with hedge funds collectively owning 76.93% of the company's stock.
• Phillips 66 recently announced a quarterly dividend of $1.20 per share, which will be paid on September 2nd, representing a yield of 4.1%.

Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,840 shares of the oil and gas company's stock, valued at approximately $474,000.

Several other institutional investors have also bought and sold shares of the business. Trajan Wealth LLC lifted its holdings in shares of Phillips 66 by 3.9% in the 1st quarter. Trajan Wealth LLC now owns 40,641 shares of the oil and gas company's stock worth $5,018,000 after acquiring an additional 1,521 shares during the last quarter. Sustainable Insight Capital Management LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth about $1,457,000. Public Sector Pension Investment Board lifted its holdings in shares of Phillips 66 by 3.1% in the 1st quarter. Public Sector Pension Investment Board now owns 110,431 shares of the oil and gas company's stock worth $13,636,000 after acquiring an additional 3,308 shares during the last quarter. Todd Asset Management LLC lifted its holdings in Phillips 66 by 25.1% during the 1st quarter. Todd Asset Management LLC now owns 235,017 shares of the oil and gas company's stock valued at $29,020,000 after buying an additional 47,176 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in Phillips 66 by 9.5% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,635 shares of the oil and gas company's stock valued at $576,000 after buying an additional 402 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PSX shares. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Cantor Fitzgerald started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating for the company. Mizuho lifted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley lifted their price objective on shares of Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $136.20.

Phillips 66 Stock Up 2.0%

Shares of Phillips 66 stock traded up $2.46 on Wednesday, reaching $122.50. The stock had a trading volume of 2,359,149 shares, compared to its average volume of 2,514,303. The company has a 50 day moving average price of $123.45 and a 200 day moving average price of $118.89. 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 $140.85. The stock has a market capitalization of $49.50 billion, a P/E ratio of 29.45, a P/E/G ratio of 1.65 and a beta of 1.09.

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, topping 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 for the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. As a group, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company 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. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.9%. Phillips 66's payout ratio is presently 115.38%.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on 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 sale, the executive vice president directly owned 43,373 shares in the company, valued at $5,638,490. This trade represents a 9.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Heim bought 1,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,939 shares of company stock worth $237,725. 0.22% of the stock is owned by corporate 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.