1,267,262 Shares in Phillips 66 (NYSE:PSX) Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Phillips 66, purchasing 1,267,262 shares valued at approximately $156 million, which represents about 0.31% of the company as of their latest SEC filing.
• Phillips 66 recently reported earnings of $2.38 per share, exceeding analysts' expectations, with revenues reaching $33.77 billion for the quarter.
• The company announced a quarterly dividend of $1.20 per share, resulting in an annualized yield of 4.1%, despite a current dividend payout ratio of 115.38%.

Nuveen LLC bought a new position in Phillips 66 (NYSE:PSX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,267,262 shares of the oil and gas company's stock, valued at approximately $156,482,000. Nuveen LLC owned approximately 0.31% of Phillips 66 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PSX. Brighton Jones LLC raised its holdings in shares of Phillips 66 by 238.5% in the 4th 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. Townsquare Capital LLC raised its holdings in shares of Phillips 66 by 9.7% in the 4th quarter. Townsquare Capital LLC now owns 26,474 shares of the oil and gas company's stock worth $3,016,000 after purchasing an additional 2,349 shares in the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $292,000. Advisors Capital Management LLC raised its holdings in shares of Phillips 66 by 3.5% in the 4th quarter. Advisors Capital Management LLC now owns 59,431 shares of the oil and gas company's stock worth $6,771,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Savvy Advisors Inc. raised its holdings in shares of Phillips 66 by 21.5% in the 4th quarter. Savvy Advisors Inc. now owns 3,663 shares of the oil and gas company's stock worth $417,000 after purchasing an additional 649 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 2.0%

Phillips 66 stock traded up $2.46 during trading hours on Wednesday, hitting $122.50. The company had a trading volume of 2,359,149 shares, compared to its average volume of 2,514,303. The firm's fifty day moving average is $123.45 and its 200-day moving average is $118.89. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.85. The firm has a market capitalization of $49.50 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09. 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 announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the prior year, the business posted $2.31 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PSX shares. Scotiabank reiterated a "sector perform" rating and issued a $133.00 target price on shares of Phillips 66 in a report on Friday, July 11th. Citigroup downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and upped their price target for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Evercore ISI began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price target for the company. Compass Point began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating for the company. Finally, Raymond James Financial set a $142.00 price target on shares of Phillips 66 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus target price of $136.20.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Sigmund L. Cornelius purchased 500 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This trade represents a 2.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael A. Heim purchased 1,000 shares of the company's stock in a transaction dated 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 in the company, valued at $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,939 shares of company stock worth $237,725 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.

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.