Callan Family Office LLC acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,814 shares of the oil and gas company's stock, valued at approximately $1,659,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. MUFG Securities EMEA plc grew its holdings in Phillips 66 by 113.5% during the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company's stock worth $2,131,000 after purchasing an additional 8,783 shares during the period. Horizon Investments LLC increased its position in Phillips 66 by 478.4% during the fourth quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company's stock worth $8,167,000 after buying an additional 52,348 shares during the last quarter. Truist Financial Corp raised its stake in Phillips 66 by 1.6% in the fourth quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company's stock valued at $87,113,000 after buying an additional 10,585 shares during the period. Fifth Third Bancorp raised its stake in Phillips 66 by 543.7% in the first quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company's stock valued at $23,348,000 after buying an additional 108,248 shares during the period. Finally, National Pension Service lifted its position in shares of Phillips 66 by 2.0% in the fourth quarter. National Pension Service now owns 614,059 shares of the oil and gas company's stock valued at $79,238,000 after buying an additional 11,960 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.
Phillips 66 Price Performance
Shares of NYSE PSX opened at $243.34 on Monday. The firm has a market cap of $97.10 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. Phillips 66 has a 1-year low of $124.88 and a 1-year high of $246.95. The business's 50 day moving average is $198.87 and its 200-day moving average is $179.70.
Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. During the same period in the previous year, the company posted $2.38 EPS. Equities research analysts predict that Phillips 66 will post 23.86 earnings per share for the current year.
Phillips 66 declared that its Board of Directors has approved a stock buyback program on Friday, July 31st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.
Phillips 66 Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. Phillips 66's dividend payout ratio (DPR) is currently 28.95%.
Insider Buying and Selling at Phillips 66
In related news, EVP Richard G. Harbison sold 52,100 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the transaction, the executive vice president directly owned 39,094 shares of the company's stock, valued at approximately $8,747,673.44. This trade represents a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the sale, the executive vice president owned 27,537 shares of the company's stock, valued at $5,811,683.85. This trade represents a 11.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 100,507 shares of company stock worth $21,770,810. Insiders own 0.40% of the company's stock.
Wall Street Analysts Forecast Growth
PSX has been the topic of a number of recent analyst reports. Zacks Research lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Citigroup reaffirmed a "neutral" rating on shares of Phillips 66 in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. TD Cowen upped their price objective on shares of Phillips 66 from $240.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Morgan Stanley increased their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $206.56.
Check Out Our Latest Analysis on PSX
Phillips 66 Profile
(
Free Report)
Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.
The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.
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