Phillips 66 $PSX Shares Purchased by Mariner LLC

Key Points

• Mariner LLC increased its stake in Phillips 66 by 9.1% in the fourth quarter, adding 98,361 shares to reach 1,179,388 shares valued at about $152.2 million.
• Phillips 66 beat earnings expectations in its latest quarter, reporting $0.49 per share versus an expected loss, while revenue rose 6.9% year over year to $32.54 billion.
• The company continues to support shareholders with a quarterly dividend of $1.27 per share, equal to an annualized yield of 2.8%.

Mariner LLC boosted its position in Phillips 66 (NYSE:PSX - Free Report) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,179,388 shares of the oil and gas company's stock after buying an additional 98,361 shares during the quarter. Mariner LLC owned 0.29% of Phillips 66 worth $152,195,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. Vanguard Group Inc. lifted its holdings in Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock worth $7,035,574,000 after buying an additional 5,356,558 shares in the last quarter. Norges Bank acquired a new position in Phillips 66 in the 4th quarter worth $640,206,000. M&T Bank Corp lifted its holdings in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock worth $352,007,000 after buying an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock worth $257,512,000 after buying an additional 1,532,389 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Phillips 66 in the 2nd quarter worth $107,967,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Price Performance

PSX opened at $179.27 on Monday. The company has a 50-day moving average of $172.49 and a 200-day moving average of $157.92. The company has a market capitalization of $71.88 billion, a P/E ratio of 17.66, a PEG ratio of 0.26 and a beta of 0.68. Phillips 66 has a 1-year low of $118.00 and a 1-year high of $190.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company's revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.90) EPS. Equities analysts expect that Phillips 66 will post 17.95 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66's dividend payout ratio is currently 50.05%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 600 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company's stock, valued at $16,705,826.56. This represents a 0.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 45,629 shares of company stock valued at $8,071,540. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James Financial boosted their price objective on shares of Phillips 66 from $215.00 to $218.00 and gave the stock an "outperform" rating in a report on Wednesday, June 10th. Zacks Research upgraded shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Argus boosted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Tudor Pickering raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, Guggenheim raised shares of Phillips 66 to an "outperform" rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $192.33.

Phillips 66 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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