Phillips 66 $PSX Shares Purchased by F&V Capital Management LLC

Key Points

• F&V Capital Management LLC increased its stake in Phillips 66 by 2.4% during the second quarter, holding 136,142 shares valued at approximately $16.24 million.
• Phillips 66 recently reported earnings of $2.38 per share, exceeding analyst expectations, with total revenue of $33.77 billion for the quarter.
• The company announced a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 3.6%, despite a high payout ratio of 115.38%.

F&V Capital Management LLC grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 2.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 136,142 shares of the oil and gas company's stock after acquiring an additional 3,140 shares during the quarter. Phillips 66 comprises about 4.2% of F&V Capital Management LLC's portfolio, making the stock its 9th biggest holding. F&V Capital Management LLC's holdings in Phillips 66 were worth $16,242,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PSX. Wolff Wiese Magana LLC lifted its position in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 82 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 during the 1st quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter valued at approximately $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 during the first quarter worth $29,000. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PSX. Scotiabank reiterated a "sector perform" rating and issued a $133.00 price target on shares of Phillips 66 in a research note on Friday, July 11th. Zacks Research upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 26th. Bank of America downgraded Phillips 66 from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. UBS Group upped their price objective on Phillips 66 from $143.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Finally, JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research report on Wednesday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.44.

Phillips 66 Stock Up 0.3%

Shares of NYSE:PSX opened at $135.02 on Friday. The firm has a market cap of $54.57 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.95 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The business has a fifty day simple moving average of $128.72 and a 200 day simple moving average of $120.46.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period last year, the company earned $2.31 EPS. Analysts predict 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 was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company's stock, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 9,850 shares of company stock valued at $1,188,910 and sold 13,179 shares valued at $1,779,165. 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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