12,201 Shares in Phillips 66 $PSX Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has invested approximately $1.51 million in Phillips 66 by acquiring 12,201 shares during the 1st quarter, as reported in their recent 13F filing.
• Phillips 66 reported $2.38 earnings per share (EPS) for the last quarter, exceeding analyst estimates of $1.79, with revenues of $33.77 billion compared to an expected $32.11 billion.
• The company announced a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 3.7%, although the dividend payout ratio currently stands at 115.38%.

Dynamic Technology Lab Private Ltd bought a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,201 shares of the oil and gas company's stock, valued at approximately $1,507,000.

Other hedge funds have also added to or reduced their stakes in the company. Elliott Investment Management L.P. lifted its holdings in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Phillips 66 by 20.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock worth $19,625,000 after purchasing an additional 26,825 shares in the last quarter. Alta Advisers Ltd bought a new position in shares of Phillips 66 during the first quarter worth approximately $253,000. Evergreen Wealth Solutions LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $292,000. Finally, Sustainable Insight Capital Management LLC acquired a new stake in Phillips 66 during the first quarter worth approximately $1,457,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSX. Piper Sandler restated a "neutral" rating and issued a $145.00 price target (up previously from $144.00) on shares of Phillips 66 in a research report on Monday, August 4th. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Cantor Fitzgerald started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "neutral" rating on the stock. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Wells Fargo & Company reduced their target price on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $135.80.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total transaction of $593,055.00. Following the completion of the transaction, the executive vice president directly owned 38,980 shares in the company, valued at $5,262,300. This trade represents a 10.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Heim acquired 1,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the purchase, the director owned 12,043 shares of the company's stock, valued at $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 9,850 shares of company stock valued at $1,188,910 and sold 18,586 shares valued at $2,389,145. Company insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

PSX traded down $0.94 on Wednesday, reaching $131.35. The stock had a trading volume of 2,406,591 shares, compared to its average volume of 3,252,032. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $53.08 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.60. The firm has a 50-day moving average of $126.65 and a 200-day moving average of $119.44.

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 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the previous year, the business posted $2.31 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66's payout ratio is currently 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.