Phillips 66 $PSX Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its position in Phillips 66 by 78.9% during the first quarter, owning a total of 42,938 shares valued at approximately $5.3 million.
• Phillips 66 recently declared a quarterly dividend of $1.20 per share, which results in an annualized dividend of $4.80 and a yield of 3.6%.
• Analysts have set a moderate buy rating for Phillips 66, with an average price target of $136.20, reflecting varying assessments from different investment firms.

Ieq Capital LLC raised its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 78.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,938 shares of the oil and gas company's stock after purchasing an additional 18,939 shares during the quarter. Ieq Capital LLC's holdings in Phillips 66 were worth $5,302,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Phillips 66 in the 1st quarter worth about $156,482,000. Capitolis Liquid Global Markets LLC acquired a new position in Phillips 66 in the 4th quarter worth about $142,185,000. GAMMA Investing LLC raised its holdings in Phillips 66 by 14,119.5% in the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock worth $146,893,000 after purchasing an additional 1,181,240 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Phillips 66 by 157.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock valued at $175,593,000 after acquiring an additional 942,922 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock valued at $828,442,000 after acquiring an additional 682,459 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

Shares of PSX stock traded up $0.86 during trading hours on Monday, reaching $133.69. The company had a trading volume of 1,530,714 shares, compared to its average volume of 1,979,315. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a fifty day moving average of $125.28 and a 200-day moving average of $119.29. The company has a market capitalization of $54.03 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 1.81 and a beta of 1.15. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.85.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates 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 prior year, the business earned $2.31 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio is presently 115.38%.

Insider Buying and Selling

In other Phillips 66 news, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Mandell sold 9,800 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 56,838 shares of the company's stock, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 9,850 shares of company stock valued at $1,188,910 in the last ninety days. Company insiders own 0.22% of the company's stock.

Analyst Ratings Changes

PSX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a report on Wednesday, June 18th. Tudor Pickering cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Argus raised Phillips 66 to a "strong-buy" rating in a report on Thursday, July 31st. Raymond James Financial set a $142.00 target price on Phillips 66 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Mizuho increased their target price on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $136.20.

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.