Inceptionr LLC Buys Shares of 7,271 Phillips 66 $PSX

Key Points

• Inceptionr LLC purchased a new position of 7,271 shares in Phillips 66 (NYSE:PSX) during the third quarter, valued at approximately $989,000, contributing to institutional ownership of about 76.93%.
• Phillips 66 beat quarterly EPS estimates ($2.47 vs. $2.15) but missed revenue expectations, and raised its quarterly dividend to $1.27 (annualized $5.08), implying a 3.1% yield.
• Insiders have been net sellers—including the EVP and CFO—with 38,088 shares sold (~$6.15M) last quarter, while analysts maintain an average "Hold" rating with a $160.11 target price.

Inceptionr LLC purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,271 shares of the oil and gas company's stock, valued at approximately $989,000.

Other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC boosted its position in shares of Phillips 66 by 2.4% in the 3rd quarter. Private Advisor Group LLC now owns 33,845 shares of the oil and gas company's stock worth $4,604,000 after purchasing an additional 786 shares during the last quarter. Flavin Financial Services Inc. increased its holdings in Phillips 66 by 21.4% in the third quarter. Flavin Financial Services Inc. now owns 12,682 shares of the oil and gas company's stock valued at $1,725,000 after purchasing an additional 2,237 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its stake in Phillips 66 by 0.8% in the third quarter. B. Metzler seel. Sohn & Co. AG now owns 21,427 shares of the oil and gas company's stock valued at $2,914,000 after buying an additional 165 shares during the period. Parallel Advisors LLC lifted its stake in Phillips 66 by 3.0% in the third quarter. Parallel Advisors LLC now owns 10,059 shares of the oil and gas company's stock valued at $1,368,000 after buying an additional 291 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new position in Phillips 66 during the third quarter worth about $2,394,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSX. Jefferies Financial Group restated a "hold" rating and set a $158.00 target price on shares of Phillips 66 in a research report on Friday, February 20th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $162.00 to $163.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Scotiabank restated a "sector perform" rating and set a $140.00 price objective on shares of Phillips 66 in a report on Friday, January 16th. Zacks Research downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Finally, Citigroup increased their target price on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, Phillips 66 currently has an average rating of "Hold" and an average target price of $160.11.

Phillips 66 Stock Down 2.0%

Shares of Phillips 66 stock opened at $162.71 on Tuesday. The company has a market capitalization of $65.20 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 0.58 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The business has a 50-day moving average of $148.22 and a two-hundred day moving average of $139.07. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $169.62.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The business had revenue of $32.16 billion for the quarter, compared to analysts' expectations of $33.81 billion. During the same quarter in the previous year, the business posted ($0.15) EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were issued a dividend of $1.27 per share. This is an increase from Phillips 66's previous quarterly dividend of $1.20. The ex-dividend date was Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 3.1%. Phillips 66's dividend payout ratio is 46.95%.

Insider Buying and Selling at Phillips 66

In other news, EVP Don Baldridge sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the transaction, the executive vice president owned 38,488 shares in the company, valued at $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the sale, the chief financial officer directly owned 97,376 shares of the company's stock, valued at $16,380,590.72. This represents a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 38,088 shares of company stock valued at $6,147,655. 0.22% of the stock is currently owned by corporate 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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