Sanctuary Advisors LLC Invests $13.75 Million in Phillips 66 $PSX

Key Points

• Sanctuary Advisors acquired 81,320 Phillips 66 shares during the second quarter, worth approximately $13.75 million. Institutional investors collectively own 76.93% of PSX.
• Phillips 66 reported quarterly earnings of $9.41 per share, surpassing the $7.50 analyst consensus, while revenue reached $52.04 billion versus expectations of $43.60 billion.
• The company authorized a $10 billion stock buyback, allowing repurchases of up to 11.8% of shares, and declared a quarterly dividend of $1.27, equivalent to a 2.1% annual yield.

Sanctuary Advisors LLC acquired a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 81,320 shares of the oil and gas company's stock, valued at approximately $13,747,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Key Client Fiduciary Advisors LLC increased its position in shares of Phillips 66 by 3.5% during the second quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company's stock worth $275,000 after purchasing an additional 55 shares in the last quarter. Threadgill Financial LLC lifted its holdings in shares of Phillips 66 by 3.5% during the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company's stock valued at $286,000 after purchasing an additional 58 shares during the last quarter. Calamos Wealth Management LLC boosted its position in shares of Phillips 66 by 2.0% in the 2nd quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company's stock worth $521,000 after purchasing an additional 60 shares in the last quarter. Somerset Trust Co boosted its position in shares of Phillips 66 by 0.3% in the 2nd quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company's stock worth $3,601,000 after purchasing an additional 63 shares in the last quarter. Finally, Clifford Group LLC grew its stake in Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company's stock worth $428,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

NYSE PSX opened at $243.34 on Monday. The company has a market cap of $97.10 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. The stock's fifty day moving average price is $198.87 and its 200 day moving average price is $179.70. Phillips 66 has a 1 year low of $124.88 and a 1 year high of $246.95.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping analysts' consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to analysts' expectations of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter in the previous year, the firm posted $2.38 EPS. As a group, equities research analysts forecast that Phillips 66 will post 23.86 earnings per share for the current year.

Phillips 66 declared that its Board of Directors has initiated a stock buyback program on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Phillips 66 Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66's dividend payout ratio (DPR) is presently 28.95%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Mandell sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the transaction, the executive vice president owned 61,595 shares in the company, valued at approximately $13,242,925. This trade represents a 32.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 100,507 shares of company stock worth $21,770,810. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent analyst reports. Guggenheim raised Phillips 66 to an "outperform" rating in a research report on Wednesday, May 27th. Zacks Research downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Morgan Stanley boosted their price target on Phillips 66 from $180.00 to $196.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Barclays upped their price objective on shares of Phillips 66 from $183.00 to $216.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. Finally, Raymond James Financial increased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.56.

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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