Energy Income Partners LLC Buys 4,932 Shares of Phillips 66 $PSX

Key Points

• Energy Income Partners LLC increased its stake in Phillips 66 by 54.2%, owning 14,035 shares valued at approximately $1.73 million as of its latest SEC filing.
• Phillips 66 reported $2.38 EPS for the last quarter, exceeding analyst expectations, and had revenues of $33.77 billion, beating estimates by over $1.6 billion.
• The company announced a quarterly dividend of $1.20 per share, representing an annualized yield of 3.6%, with a payout ratio of 115.38%.

Energy Income Partners LLC boosted its position in Phillips 66 (NYSE:PSX - Free Report) by 54.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,035 shares of the oil and gas company's stock after purchasing an additional 4,932 shares during the period. Energy Income Partners LLC's holdings in Phillips 66 were worth $1,733,000 as of its most recent SEC filing.

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

Phillips 66 Stock Performance

PSX stock traded up $1.10 during trading on Thursday, reaching $131.63. 1,830,807 shares of the stock were exchanged, compared to its average volume of 3,265,405. 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 stock has a 50 day simple moving average of $125.79 and a 200-day simple moving average of $119.47. The company has a market capitalization of $53.19 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 1.81 and a beta of 1.15. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.60.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter last year, the company earned $2.31 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66's dividend payout ratio is 115.38%.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory Hayes bought 8,350 shares of the stock in a transaction dated Thursday, August 14th. The stock was acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director owned 29,423 shares of the company's stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 9,850 shares of company stock valued at $1,188,910 in the last 90 days. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PSX shares. TD Cowen upped their price target on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Scotiabank reissued a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Morgan Stanley raised their target price on Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Piper Sandler restated a "neutral" rating and set a $145.00 target price (up from $144.00) on shares of Phillips 66 in a report on Monday, August 4th. Finally, Mizuho lifted their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $135.60.

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.