Atticus Wealth Management LLC Buys 2,330 Shares of Phillips 66 $PSX

Key Points

• Atticus Wealth Management LLC significantly increased its holdings in Phillips 66 by 1,456.3% during the second quarter, acquiring an additional 2,330 shares to bring its total to 2,490 shares valued at $297,000.
• Phillips 66 reported earnings per share of $2.38 for the last quarter, exceeding the consensus estimate of $1.79, and had revenues of $33.77 billion against expectations of $32.11 billion.
• The company declared a quarterly dividend of $1.20 per share, translating to an annualized yield of 3.6% with a dividend payout ratio of 115.38%.

Atticus Wealth Management LLC raised its stake in Phillips 66 (NYSE:PSX - Free Report) by 1,456.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,490 shares of the oil and gas company's stock after acquiring an additional 2,330 shares during the period. Atticus Wealth Management LLC's holdings in Phillips 66 were worth $297,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Elliott Investment Management L.P. grew its position in Phillips 66 by 1,929.0% in the first 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 acquiring an additional 14,950,000 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Phillips 66 by 20.3% in the first 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 during the period. Alta Advisers Ltd acquired a new position in Phillips 66 in the first quarter valued at about $253,000. Sustainable Insight Capital Management LLC acquired a new position in Phillips 66 in the first quarter valued at about $1,457,000. Finally, Evergreen Wealth Solutions LLC bought a new stake in shares of Phillips 66 in the first quarter worth about $292,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of PSX traded up $0.14 during mid-day trading on Monday, reaching $129.86. The company's stock had a trading volume of 3,361,899 shares, compared to its average volume of 2,462,234. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.60. The stock has a market cap of $52.48 billion, a P/E ratio of 31.22, a PEG ratio of 1.86 and a beta of 1.15. The business has a 50-day simple moving average of $127.06 and a two-hundred day simple moving average of $119.78. 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 released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to analysts' expectations 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 last year, the firm posted $2.31 EPS. As a group, equities research 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 paid a $1.20 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Insiders Place Their Bets

In other Phillips 66 news, Director Sigmund L. Cornelius acquired 500 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price 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 $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory Hayes acquired 8,350 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the purchase, the director owned 29,423 shares of the company's stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. TD Cowen increased their price target on Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a report on Monday, July 28th. UBS Group upped their price objective on Phillips 66 from $143.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday. Wells Fargo & Company reduced their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Piper Sandler upped their price objective on Phillips 66 from $144.00 to $154.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Finally, Mizuho increased their price target on Phillips 66 from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus target price of $139.38.

Phillips 66 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.