Osmosis Investment Management UK Ltd Makes New $1.05 Million Investment in Phillips 66 $PSX

Key Points

• Osmosis Investment Management purchased 6,218 Phillips 66 shares worth approximately $1.05 million in the second quarter. Institutional investors own 76.93% of the company.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and average price target of $206.56. Phillips 66 reported quarterly EPS of $9.41, exceeding estimates of $7.50.
• Phillips 66 announced a $10 billion share-repurchase authorization, allowing it to buy back up to 11.8% of its shares, and declared a quarterly dividend of $1.27. Insiders, however, sold more than 100,000 shares over the past quarter.

Osmosis Investment Management UK Ltd purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,218 shares of the oil and gas company's stock, valued at approximately $1,051,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NFSG Corp grew its holdings in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Axiom Investment Management LLC purchased a new position in Phillips 66 during the first quarter valued at approximately $27,000. SWAN Capital LLC grew its stake in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Compass Financial Management LLC bought a new stake in Phillips 66 during the 2nd quarter worth approximately $28,000. Finally, Kelleher Financial Advisors purchased a new stake in Phillips 66 in the 2nd quarter worth approximately $29,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on PSX shares. Raymond James Financial boosted their price target on shares of Phillips 66 from $218.00 to $235.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Citigroup reiterated a "neutral" rating on shares of Phillips 66 in a research report on Thursday, August 6th. Weiss Ratings upgraded Phillips 66 from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. Piper Sandler raised their price target on Phillips 66 from $208.00 to $209.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Finally, UBS Group boosted their price objective on Phillips 66 from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $206.56.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the company's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This represents a 10.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the transaction, the executive vice president owned 39,094 shares in the company, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by insiders.

Phillips 66 Trading Down 0.4%

PSX stock opened at $241.88 on Tuesday. The company has a market capitalization of $96.51 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. 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 has a one year low of $126.74 and a one year high of $246.95. The company's 50 day moving average price is $200.25 and its two-hundred day moving average price is $180.36.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating the consensus estimate of $7.50 by $1.91. The company had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter last year, the firm earned $2.38 EPS. As a group, analysts predict that Phillips 66 will post 23.86 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66's payout ratio is 28.95%.

Phillips 66 announced that its board has authorized a stock repurchase program on Friday, July 31st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 11.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Phillips 66 Company Profile

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.

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