OneDigital Investment Advisors LLC bought a new stake in Phillips 66 (NYSE:PSX - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 28,469 shares of the oil and gas company's stock, valued at approximately $4,813,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. NFSG Corp increased its holdings in shares of 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 acquiring an additional 75 shares during the period. Axiom Investment Management LLC acquired a new position in Phillips 66 during the 1st quarter valued at about $27,000. Kelleher Financial Advisors bought a new position in Phillips 66 in the 2nd quarter worth about $29,000. J.Safra Asset Management Corp bought a new position in Phillips 66 in the 2nd quarter worth about $30,000. Finally, 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 valued at $27,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on PSX. Argus boosted their price objective on Phillips 66 from $185.00 to $197.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. UBS Group raised their target price on Phillips 66 from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, July 27th. TD Cowen lifted their target price on Phillips 66 from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Raymond James Financial boosted their price target on Phillips 66 from $218.00 to $235.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Finally, Barclays lifted their price objective on shares of Phillips 66 from $183.00 to $216.00 and gave the company an "equal weight" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.56.
Check Out Our Latest Report on Phillips 66
Insider Buying and Selling at Phillips 66
In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company's stock, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Mandell sold 30,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the transaction, the executive vice president owned 61,595 shares of the company's stock, valued at approximately $13,242,925. This trade represents a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 100,507 shares of company stock valued at $21,770,810 in the last ninety days. 0.40% of the stock is owned by insiders.
Phillips 66 Stock Performance
Shares of NYSE PSX opened at $240.50 on Tuesday. Phillips 66 has a 1 year low of $121.24 and a 1 year high of $240.67. The firm has a market cap of $95.96 billion, a P/E ratio of 13.70, a PEG ratio of 0.17 and a beta of 0.68. The stock has a fifty day moving average price of $193.87 and a two-hundred day moving average price of $176.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32.
Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping analysts' consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter in the previous year, the business earned $2.38 EPS. Research analysts forecast that Phillips 66 will post 24.44 EPS for the current fiscal year.
Phillips 66 Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.1%. Phillips 66's payout ratio is 28.95%.
Phillips 66 declared that its board has initiated a stock buyback plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.
Phillips 66 Profile
(
Free Report)
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.
Further Reading
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