Phillips 66 $PSX Stock Holdings Raised by Advisors Capital Management LLC

Key Points

• Advisors Capital Management LLC increased its holdings in Phillips 66 by 6.7% in the first quarter, owning 63,433 shares valued at approximately $7.83 million.
• Phillips 66's quarterly earnings were reported at $2.38 EPS, exceeding analysts' estimates by $0.59, with revenue of $33.77 billion for the quarter.
• The company declared a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 3.6%.

Advisors Capital Management LLC increased its holdings in Phillips 66 (NYSE:PSX - Free Report) by 6.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 63,433 shares of the oil and gas company's stock after buying an additional 4,002 shares during the period. Advisors Capital Management LLC's holdings in Phillips 66 were worth $7,833,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PSX. Brighton Jones LLC boosted 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 valued at $1,166,000 after buying an additional 7,214 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Phillips 66 by 20.8% in the 4th quarter. Janus Henderson Group PLC now owns 275,569 shares of the oil and gas company's stock valued at $31,392,000 after buying an additional 47,404 shares during the period. Lighthouse Investment Partners LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $476,000. OMERS ADMINISTRATION Corp boosted its holdings in shares of Phillips 66 by 19.6% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 18,282 shares of the oil and gas company's stock valued at $2,083,000 after buying an additional 2,993 shares during the period. Finally, NorthRock Partners LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $633,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.8%

PSX stock opened at $132.49 on Friday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.60. The company has a market capitalization of $53.54 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The firm's 50-day moving average is $126.87 and its two-hundred day moving average is $119.55. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $32.11 billion. During the same period in the previous year, the firm earned $2.31 EPS. On average, analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66's payout ratio is 115.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $135.00, for a total transaction of $593,055.00. Following the sale, the executive vice president directly owned 38,980 shares in the company, valued at approximately $5,262,300. The trade was a 10.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 9,850 shares of company stock worth $1,188,910 and sold 18,586 shares worth $2,389,145. Corporate insiders own 0.22% of the company's stock.

Analyst Ratings Changes

PSX has been the subject of several research reports. Compass Point initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating for the company. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Scotiabank reissued a "sector perform" rating and set a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Evercore ISI began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set an "outperform" rating and a $130.00 target price for the company. Finally, Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.40.

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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