Phillips 66 (NYSE:PSX) Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Phillips 66 by 3.3%, owning 3,103,316 shares valued at approximately $383.2 million as of the latest reporting period.
• Phillips 66 announced a quarterly dividend of $1.20 per share, representing a 4.0% yield and an annualized dividend of $4.80, with a payout ratio of 115.38%.
• The company reported earnings of $2.38 per share for the most recent quarter, surpassing analysts' estimates of $1.79, and had a revenue of $33.77 billion, exceeding expectations of $32.11 billion.

Charles Schwab Investment Management Inc. grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,103,316 shares of the oil and gas company's stock after purchasing an additional 100,321 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.76% of Phillips 66 worth $383,197,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. von Borstel & Associates Inc. purchased a new position in Phillips 66 during the 1st quarter worth $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new position in Phillips 66 during the 1st quarter valued at approximately $29,000. Pacific Center for Financial Services purchased a new position in shares of Phillips 66 in the fourth quarter worth $27,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Phillips 66 in the first quarter worth $29,000. Institutional investors own 76.93% of the company's stock.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the sale, the executive vice president owned 43,373 shares in the company, valued at $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. This trade represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,939 shares of company stock valued at $237,725. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PSX. Raymond James Financial set a $142.00 price target on shares of Phillips 66 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley raised their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a report on Wednesday, June 18th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.20.

Phillips 66 Stock Performance

PSX stock traded up $1.68 during midday trading on Tuesday, hitting $120.05. 1,749,136 shares of the stock traded hands, compared to its average volume of 3,395,269. The firm has a market cap of $48.52 billion, a P/E ratio of 28.86, a PEG ratio of 1.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The stock's fifty day simple moving average is $123.17 and its 200-day simple moving average is $118.86. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.85.

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 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion for 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 quarter last year, the business earned $2.31 earnings per share. On average, analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced 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 is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.0%. Phillips 66's dividend payout ratio (DPR) is 115.38%.

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.