Blair William & Co. IL Purchases 18,900 Shares of Phillips 66 $PSX

Key Points

• Blair William & Co. IL increased its holdings in Phillips 66 by 10.3% in Q2, purchasing 18,900 shares, bringing its total ownership to 201,721 shares valued at approximately $24 million.
• Several analysts have upgraded their ratings for Phillips 66, with price targets reaching as high as $170.00, reflecting a consensus rating of "Moderate Buy" among investment analysts.
• Phillips 66 announced a quarterly dividend of $1.20, set to be paid on December 1st, with an annualized yield of 3.7% and a payout ratio of 115.38%.

Blair William & Co. IL raised its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201,721 shares of the oil and gas company's stock after buying an additional 18,900 shares during the quarter. Blair William & Co. IL's holdings in Phillips 66 were worth $24,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elliott Investment Management L.P. boosted its position in Phillips 66 by 1,929.0% during 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 buying an additional 14,950,000 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of 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 worth $19,625,000 after buying an additional 26,825 shares during the period. Alta Advisers Ltd bought a new stake in shares of Phillips 66 in the 1st quarter valued at about $253,000. Sustainable Insight Capital Management LLC purchased a new stake in Phillips 66 during the 1st quarter valued at about $1,457,000. Finally, Evergreen Wealth Solutions LLC bought a new position in Phillips 66 during the 1st quarter worth approximately $292,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Cowen increased their price objective on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Compass Point began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "buy" rating for the company. Piper Sandler raised their price target on shares of Phillips 66 from $154.00 to $155.00 and gave the stock a "neutral" rating in a report on Monday, September 29th. Evercore ISI upped their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Finally, Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and increased their target price for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $140.50.

Insiders Place Their Bets

In related news, Director Gregory Hayes bought 8,350 shares of the stock in a transaction on Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, the director owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director owned 21,543 shares of the company's stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

PSX stock opened at $131.10 on Friday. 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 firm has a 50 day moving average price of $129.36 and a 200-day moving average price of $120.62. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The firm has a market capitalization of $52.98 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.91 and a beta of 1.11.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period last year, the business earned $2.31 EPS. Equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.7%. Phillips 66's dividend payout ratio is 115.38%.

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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