Callan Family Office LLC Increases Position in Phillips 66 $PSX

Key Points

• Callan Family Office LLC increased its stake in Phillips 66 by 73.1% during the second quarter, owning a total of 5,274 shares worth $629,000.
• Phillips 66 announced a quarterly dividend of $1.20 per share, with an annualized yield of 3.7%, set to be paid on December 1st.
• Wall Street analysts have mixed ratings for Phillips 66, with a consensus price target of $140.75, reflecting cautious optimism about the stock's future performance.

Callan Family Office LLC raised its position in Phillips 66 (NYSE:PSX - Free Report) by 73.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,274 shares of the oil and gas company's stock after purchasing an additional 2,228 shares during the quarter. Callan Family Office LLC's holdings in Phillips 66 were worth $629,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its position in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 82 shares during the period. von Borstel & Associates Inc. purchased a new stake in Phillips 66 in the first quarter valued at approximately $27,000. Olde Wealth Management LLC purchased a new stake in Phillips 66 in the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter worth $29,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Phillips 66 during the first quarter worth $29,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was bought at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares of the company's stock, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 9,850 shares of company stock worth $1,188,910. Insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

NYSE PSX opened at $129.82 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. The company has a market capitalization of $52.46 billion, a PE ratio of 31.21, a P/E/G ratio of 1.86 and a beta of 1.11. The company has a fifty day moving average of $129.67 and a two-hundred day moving average of $120.61.

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 (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. As a group, analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PSX shares. 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, September 22nd. Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Bank of America lowered Phillips 66 from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Piper Sandler upped their price objective on Phillips 66 from $154.00 to $155.00 and gave the stock a "neutral" rating in a research report on Monday, September 29th. Finally, Mizuho upped their price objective on Phillips 66 from $140.00 to $142.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. Two equities 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 stock. According to MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.75.

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.

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