Cwm LLC Acquires 4,404 Shares of Phillips 66 $PSX

Key Points

• Cwm LLC increased its stake in Phillips 66 by 11.7% during the 2nd quarter, acquiring an additional 4,404 shares, bringing its total holdings to 42,204 shares valued at approximately $5,035,000.
• Phillips 66's recent earnings report showed earnings per share of $2.38, beating estimates, with revenue of $33.77 billion exceeding the consensus prediction.
• The company declared a quarterly dividend of $1.20 per share, resulting in an annualized dividend of $4.80, yielding 3.7%, with a payout ratio of 115.38%.

Cwm LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 11.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,204 shares of the oil and gas company's stock after purchasing an additional 4,404 shares during the quarter. Cwm LLC's holdings in Phillips 66 were worth $5,035,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PSX. WealthTrust Axiom LLC raised its holdings in shares of Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company's stock worth $894,000 after acquiring an additional 81 shares during the last quarter. Wolff Wiese Magana LLC grew its position in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Magnus Financial Group LLC grew its position in Phillips 66 by 2.8% in the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company's stock worth $368,000 after purchasing an additional 84 shares in the last quarter. Biltmore Wealth Management LLC grew its position in Phillips 66 by 2.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company's stock worth $431,000 after purchasing an additional 85 shares in the last quarter. Finally, XML Financial LLC grew its position in Phillips 66 by 0.5% in the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company's stock worth $2,093,000 after purchasing an additional 85 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Compass Point assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating for the company. Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "neutral" rating for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 26th. Finally, Scotiabank reissued a "sector perform" rating and set a $133.00 target price on shares of Phillips 66 in a research report on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $140.75.

Phillips 66 Stock Down 0.9%

Phillips 66 stock opened at $129.69 on Thursday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The firm has a 50 day moving average price of $130.05 and a 200-day moving average price of $120.75. The company has a market capitalization of $52.41 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.84 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results 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. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the firm earned $2.31 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

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

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Michael A. Heim purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director owned 12,043 shares of the company's stock, valued at $1,517,056.71. This represents a 9.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of the company's stock in a transaction that occurred 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 completion of the purchase, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by corporate insiders.

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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