Ransom Advisory Ltd Buys Shares of 3,725 Phillips 66 $PSX

Key Points

• Ransom Advisory Ltd has acquired a new stake in Phillips 66, purchasing 3,725 shares valued at approximately $460,000 during the first quarter.
• A significant insider transaction was reported, with EVP Brian Mandell selling 9,800 shares of Phillips 66 stock for over $1.2 million, representing a 14.71% decrease in his position.
• Phillips 66 recently declared a quarterly dividend of $1.20 per share, reflecting an annualized yield of 3.6% despite a payout ratio of 115.38%.

Ransom Advisory Ltd bought a new stake in Phillips 66 (NYSE:PSX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,725 shares of the oil and gas company's stock, valued at approximately $460,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Forum Financial Management LP boosted its holdings in Phillips 66 by 1.0% during the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after purchasing an additional 77 shares during the last quarter. WealthTrust Axiom LLC boosted its holdings in Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company's stock worth $894,000 after purchasing an additional 81 shares during the last quarter. CWC Advisors LLC. boosted its holdings in Phillips 66 by 1.0% during the fourth quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after purchasing an additional 92 shares during the last quarter. Hager Investment Management Services LLC boosted its holdings in Phillips 66 by 7.2% during the first quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after purchasing an additional 96 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in Phillips 66 by 14.4% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock worth $95,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Insiders Place Their Bets

In other news, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company's stock, valued at approximately $7,104,750. This represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Hayes acquired 8,350 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 9,850 shares of company stock worth $1,188,910 and have sold 18,586 shares worth $2,389,145. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PSX. Citigroup cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Raymond James Financial boosted their target price on shares of Phillips 66 from $142.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday. Evercore ISI assumed coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 target price on the stock. Argus upgraded shares of Phillips 66 to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a research note on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $135.80.

Phillips 66 Stock Performance

Phillips 66 stock opened at $132.24 on Wednesday. The firm's 50 day simple moving average is $126.65 and its 200 day simple moving average is $119.44. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $53.44 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.60.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the prior year, the firm posted $2.31 EPS. As a group, analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

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

Phillips 66 Profile

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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