2,717 Shares in Phillips 66 $PSX Acquired by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC has made a new investment in Phillips 66, purchasing 2,717 shares valued at approximately $336,000.
• Phillips 66 recently reported earnings of $2.38 per share, exceeding analyst estimates significantly, and had a revenue of $33.77 billion for the quarter.
• The company has declared a quarterly dividend of $1.20 per share, which represents an annual yield of 3.7%.

Curi RMB Capital LLC purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,717 shares of the oil and gas company's stock, valued at approximately $336,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacific Center for Financial Services acquired a new position in Phillips 66 during the fourth quarter worth about $27,000. von Borstel & Associates Inc. acquired a new position in Phillips 66 during the first quarter worth about $27,000. Olde Wealth Management LLC acquired a new position in Phillips 66 during the first quarter worth about $28,000. Wood Tarver Financial Group LLC acquired a new position in Phillips 66 during the fourth quarter worth about $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in Phillips 66 during the first quarter worth about $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The acquisition 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 stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 9,850 shares of company stock worth $1,188,910 and have sold 18,586 shares worth $2,389,145. Company insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent research reports. Bank of America lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Piper Sandler lifted their target price on shares of Phillips 66 from $144.00 to $154.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Evercore ISI began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set an "outperform" rating and a $130.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and a consensus price target of $136.40.

Phillips 66 Trading Up 0.4%

Shares of Phillips 66 stock traded up $0.48 on Thursday, reaching $131.90. The company had a trading volume of 860,287 shares, compared to its average volume of 3,237,881. The firm's 50 day moving average price is $126.75 and its two-hundred day moving average price is $119.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $140.60. The firm has a market cap of $53.30 billion, a PE ratio of 31.71, a PEG ratio of 2.06 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analysts' expectations 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 company posted $2.31 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66's dividend payout ratio (DPR) is presently 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.