Phillips 66 $PSX Shares Bought by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC has increased its position in Phillips 66 by 13.4% in the first quarter, owning 33,927 shares worth approximately $4.19 million.
• The company announced a $1.20 per share quarterly dividend, reflecting a yield of 3.9%, with a payout ratio of 115.38% as of the latest reports.
• Phillips 66 reported earnings of $2.38 per share for the last quarter, exceeding analysts' expectations, with revenue totaling $33.77 billion.

Kovitz Investment Group Partners LLC grew its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 13.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,927 shares of the oil and gas company's stock after buying an additional 4,014 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Phillips 66 were worth $4,189,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Cookson Peirce & Co. Inc. raised its position in Phillips 66 by 18.1% during the first quarter. Cookson Peirce & Co. Inc. now owns 6,366 shares of the oil and gas company's stock valued at $786,000 after purchasing an additional 974 shares during the period. Vestmark Advisory Solutions Inc. raised its holdings in Phillips 66 by 64.5% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 15,216 shares of the oil and gas company's stock valued at $1,879,000 after buying an additional 5,967 shares during the period. Harfst & Associates Inc. purchased a new stake in Phillips 66 during the 1st quarter valued at $673,000. Ground Swell Capital LLC bought a new stake in Phillips 66 in the first quarter worth $203,000. Finally, William B. Walkup & Associates Inc. boosted its stake in Phillips 66 by 4.2% during the first quarter. William B. Walkup & Associates Inc. now owns 15,662 shares of the oil and gas company's stock worth $1,934,000 after buying an additional 628 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Buying and Selling at Phillips 66

In related news, Director Michael A. Heim purchased 1,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director owned 12,043 shares of the company's stock, valued at $1,517,056.71. This trade represents a 9.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Up 0.5%

Shares of PSX traded up $0.6080 during midday trading on Thursday, reaching $124.1780. 934,015 shares of the stock were exchanged, compared to its average volume of 3,325,999. The company has a market capitalization of $50.18 billion, a P/E ratio of 29.85, a PEG ratio of 1.65 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.85. The company's 50 day moving average is $124.10 and its two-hundred day moving average is $118.96.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the previous year, the company posted $2.31 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. Phillips 66's dividend payout ratio is currently 115.38%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PSX. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. UBS Group increased their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "neutral" rating for the company. Compass Point assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "buy" rating for the company. Finally, TD Cowen increased their price target on Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.20.

Phillips 66 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.