MBB Public Markets I LLC Invests $305,000 in Phillips 66 $PSX

Key Points

• MBB Public Markets I LLC has invested $305,000 in Phillips 66 by acquiring 2,471 shares, marking a new position for the institutional investor.
• Phillips 66 recently reported earnings of $2.38 per share, significantly beating the expected $1.79, with revenues reaching $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share, representing a 3.7% yield, despite a high payout ratio of 115.38%.

MBB Public Markets I LLC acquired a new position in Phillips 66 (NYSE:PSX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,471 shares of the oil and gas company's stock, valued at approximately $305,000.

A number of other large investors have also recently bought and sold shares of PSX. Brighton Jones LLC boosted its holdings in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Ethic Inc. boosted its holdings in Phillips 66 by 237.2% in the fourth quarter. Ethic Inc. now owns 9,095 shares of the oil and gas company's stock worth $1,036,000 after purchasing an additional 6,398 shares in the last quarter. Graham Capital Management L.P. bought a new stake in Phillips 66 in the fourth quarter worth $1,035,000. Janus Henderson Group PLC boosted its holdings in Phillips 66 by 20.8% in the fourth quarter. Janus Henderson Group PLC now owns 275,569 shares of the oil and gas company's stock worth $31,392,000 after purchasing an additional 47,404 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new stake in Phillips 66 in the fourth quarter worth $476,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PSX shares. UBS Group upped their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Evercore ISI initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price objective for the company. Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Morgan Stanley upped their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Bank of America cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and upped their price target for the company from $144.00 to $147.00 in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $135.80.

Phillips 66 Stock Down 0.7%

PSX stock opened at $131.35 on Thursday. 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 has a 52-week low of $91.01 and a 52-week high of $140.60. The company has a 50-day moving average of $126.75 and a two-hundred day moving average of $119.52. The stock has a market capitalization of $53.08 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 2.06 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last released 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 company had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the prior year, the company earned $2.31 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

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

Insider Buying and Selling at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares of the company's stock, valued at approximately $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sigmund L. Cornelius acquired 500 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director directly owned 21,543 shares of the company's stock, valued at $2,661,637.65. The trade was a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 9,850 shares of company stock valued at $1,188,910 and have sold 18,586 shares valued at $2,389,145. Corporate insiders own 0.22% of the company's stock.

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.

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