Empowered Funds LLC bought a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 179,617 shares of the oil and gas company's stock, valued at approximately $30,364,000.
Several other institutional investors have also recently made changes to their positions in the company. NFSG Corp raised its position in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC purchased a new position in shares of Phillips 66 during the first quarter valued at approximately $27,000. SWAN Capital LLC boosted its position in shares of Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock valued at $27,000 after buying an additional 190 shares during the period. Compass Financial Management LLC bought a new position in shares of Phillips 66 during the second quarter valued at approximately $28,000. Finally, Kelleher Financial Advisors bought a new position in shares of Phillips 66 during the second quarter valued at approximately $29,000. Institutional investors own 76.93% of the company's stock.
Insider Buying and Selling
In other Phillips 66 news, EVP Brian Mandell sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares of the company's stock, valued at approximately $13,242,925. The trade was a 32.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard G. Harbison sold 52,100 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the sale, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 100,507 shares of company stock worth $21,770,810 over the last ninety days. 0.40% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
PSX has been the topic of a number of recent analyst reports. Argus increased their target price on Phillips 66 from $185.00 to $197.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Tudor Pickering raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Guggenheim upgraded shares of Phillips 66 to an "outperform" rating in a report on Wednesday, May 27th. BMO Capital Markets upped their price target on Phillips 66 from $195.00 to $215.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group lifted their target price on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a "hold" rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $206.56.
Check Out Our Latest Stock Report on Phillips 66
Phillips 66 Stock Performance
PSX opened at $240.58 on Friday. Phillips 66 has a 12-month low of $126.74 and a 12-month high of $246.95. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $96.00 billion, a PE ratio of 13.71, a P/E/G ratio of 0.18 and a beta of 0.68. The firm has a 50 day moving average of $204.55 and a two-hundred day moving average of $182.15.
Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The company 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 firm posted $2.38 earnings per share. On average, analysts anticipate that Phillips 66 will post 23.86 EPS for the current year.
Phillips 66 announced that its Board of Directors has initiated a share buyback program on Friday, July 31st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.
Phillips 66 Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date 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 is presently 28.95%.
Phillips 66 Company 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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