Infrastructure Capital Advisors LLC Has $2.71 Million Stake in Phillips 66 $PSX

Key Points

• Infrastructure Capital Advisors LLC cut its Phillips 66 stake by 66% in the first quarter, selling 28,802 shares and retaining 14,865 shares valued at approximately $2.71 million. Institutional investors and hedge funds collectively own 76.93% of PSX.
• Phillips 66 shares opened at $207.72, near the company’s 52-week high of $216.08. Analysts maintain a “Moderate Buy” consensus, with an average price target of $201.72, while several firms recently raised their targets.
• The company reported quarterly earnings of $0.49 per share, exceeding estimates, and declared a quarterly dividend of $1.27, equivalent to a 2.4% annual yield. Insider activity was mixed, with a director buying shares while the CFO sold shares under a pre-arranged trading plan.

Infrastructure Capital Advisors LLC trimmed its stake in Phillips 66 (NYSE:PSX - Free Report) by 66.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,865 shares of the oil and gas company's stock after selling 28,802 shares during the quarter. Infrastructure Capital Advisors LLC's holdings in Phillips 66 were worth $2,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. NFSG Corp lifted 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 buying an additional 75 shares in the last quarter. Accordant Advisory Group Inc grew its holdings in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 180 shares in the last quarter. SWAN Capital LLC increased its stake in shares of Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $27,000. Finally, Dorato Capital Management purchased a new stake in shares of Phillips 66 during the fourth quarter worth $35,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In other news, Director Kevin Omar Meyers acquired 175 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction on Thursday, July 9th. The stock was 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. This trade represents 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. Over the last ninety days, insiders have sold 41,021 shares of company stock valued at $7,195,257. 0.40% of the stock is owned by insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $207.72 on Tuesday. The business's 50-day simple moving average is $183.09 and its 200-day simple moving average is $168.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $216.08. The firm has a market cap of $83.28 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 0.16 and a beta of 0.69.

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

Phillips 66 Announces Dividend

The company also recently disclosed 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. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Phillips 66's payout ratio is presently 50.05%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSX. TD Cowen lifted their price objective on Phillips 66 from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Barclays raised their price target on Phillips 66 from $177.00 to $183.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. Argus boosted their price target on Phillips 66 from $185.00 to $197.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. UBS Group increased their price objective on Phillips 66 from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Monday. Finally, Morgan Stanley raised their price objective on shares of Phillips 66 from $180.00 to $196.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $201.72.

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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