Integrity Alliance LLC. Acquires New Shares in Phillips 66 $PSX

Key Points

• Integrity Alliance LLC acquired 2,178 shares of Phillips 66, valued at approximately $269,000, in the first quarter, highlighting growing institutional interest in the company.
• Multiple hedge funds, including Elliott Investment Management, significantly increased their positions in Phillips 66, with Elliott raising its stake by 1,929.0% to own over 15 million shares.
• Phillips 66 recently posted a quarterly earnings report showing an EPS of $2.38, surpassing analysts' estimates of $1.79, along with a quarterly dividend of $1.20 per share.

Integrity Alliance LLC. acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,178 shares of the oil and gas company's stock, valued at approximately $269,000.

Several other hedge funds have also recently bought and sold shares of the company. Elliott Investment Management L.P. increased its position in Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 worth $828,442,000 after buying an additional 682,459 shares in the last quarter. Invesco Ltd. increased its position in Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock worth $588,489,000 after buying an additional 653,248 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Phillips 66 by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company's stock worth $466,886,000 after buying an additional 377,132 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Phillips 66 by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company's stock worth $383,197,000 after buying an additional 100,321 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total transaction of $593,055.00. Following the sale, the executive vice president directly owned 38,980 shares of the company's stock, valued at approximately $5,262,300. The trade was a 10.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Hayes bought 8,350 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were acquired 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 disclosure for this purchase can be found here. In the last 90 days, insiders bought 9,850 shares of company stock valued at $1,188,910 and sold 18,586 shares valued at $2,389,145. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PSX has been the subject of several recent research reports. Barclays raised their price target on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Cantor Fitzgerald assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating for the company. Argus raised Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research report on Wednesday, June 18th. Finally, Morgan Stanley lifted their price objective on Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. One equities research 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 stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and an average target price of $136.40.

Phillips 66 Trading Down 1.3%

Shares of PSX opened at $130.77 on Friday. The stock's 50-day moving average is $126.95 and its two-hundred day moving average is $119.55. The stock has a market cap of $52.85 billion, a PE ratio of 31.44, a P/E/G ratio of 2.06 and a beta of 1.15. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $140.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter in the previous year, the firm posted $2.31 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, August 19th. Phillips 66's payout ratio is currently 115.38%.

Phillips 66 Company Profile

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.

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.