Entropy Technologies LP Buys New Shares in Phillips 66 $PSX

Entropy Technologies LP purchased a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,554 shares of the oil and gas company's stock, valued at approximately $3,380,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Clifford Group LLC increased its position in shares of Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company's stock valued at $428,000 after purchasing an additional 64 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Phillips 66 by 0.8% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company's stock valued at $1,504,000 after buying an additional 65 shares in the last quarter. CYBER HORNET ETFs LLC lifted its position in Phillips 66 by 5.7% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company's stock worth $158,000 after buying an additional 66 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company's stock worth $414,000 after buying an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its stake in Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company's stock worth $88,000 after buying an additional 72 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Analysts Set New Price Targets

PSX has been the topic of several research reports. TD Cowen lifted their price target on shares of Phillips 66 from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Tuesday. Piper Sandler reaffirmed a "neutral" rating and issued a $208.00 price objective on shares of Phillips 66 in a research note on Thursday. Jefferies Financial Group increased their target price on shares of Phillips 66 from $191.00 to $207.00 and gave the company a "hold" rating in a report on Thursday, July 9th. Wolfe Research lifted their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Finally, Citigroup boosted their price target on shares of Phillips 66 from $183.00 to $204.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.44.

Phillips 66 Price Performance

PSX opened at $206.94 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock's 50 day simple moving average is $182.54 and its 200 day simple moving average is $168.28. The firm has a market cap of $82.97 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.17 and a beta of 0.69. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $216.08.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business's revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.90) earnings per share. As a group, analysts predict that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66's payout ratio is presently 50.05%.

Insiders Place Their Bets

In other news, Director Kevin Omar Meyers purchased 175 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. The trade was a 10.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,021 shares of company stock valued at $7,195,257 over the last quarter. 0.40% of the stock is currently owned by company insiders.

Phillips 66 Company Profile

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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