Strategic Planning Group LLC Grows Stock Holdings in Phillips 66 $PSX

Key Points

• Strategic Planning Group LLC increased its stake in Phillips 66 by 10.6% during the second quarter, owning over 39,000 shares valued at approximately $4.67 million.
• Phillips 66 reported an earnings per share of $2.38 for the last quarter, surpassing analysts' estimates of $1.79 and achieving a revenue of $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share, reflecting a 3.7% yield, with a payout ratio currently at 115.38%.

Strategic Planning Group LLC grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,102 shares of the oil and gas company's stock after purchasing an additional 3,754 shares during the quarter. Strategic Planning Group LLC's holdings in Phillips 66 were worth $4,665,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Elliott Investment Management L.P. raised its position in shares of Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock valued at $1,941,723,000 after buying an additional 14,950,000 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock valued at $828,442,000 after buying an additional 682,459 shares during the period. Invesco Ltd. raised its position in shares of Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock valued at $588,489,000 after buying an additional 653,248 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Phillips 66 by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company's stock valued at $466,886,000 after buying an additional 377,132 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Phillips 66 by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company's stock valued at $383,197,000 after buying an additional 100,321 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $129.39 on Monday. 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 fifty day moving average price of $127.04 and a 200 day moving average price of $119.76. The company has a market cap of $52.29 billion, a P/E ratio of 31.10, a PEG ratio of 1.86 and a beta of 1.15. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $140.60.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its 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. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $2.31 earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, August 19th. Phillips 66's dividend payout ratio is currently 115.38%.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes acquired 8,350 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was bought at an average price 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 of the company's stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $135.00, for a total transaction of $593,055.00. Following the completion of the transaction, the executive vice president owned 38,980 shares of the company's stock, valued at $5,262,300. This represents a 10.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 9,850 shares of company stock worth $1,188,910. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

PSX has been the topic of several analyst reports. Argus raised shares of Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. Raymond James Financial boosted their target price on Phillips 66 from $142.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, September 9th. Barclays boosted their target price on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Mizuho boosted their target price on Phillips 66 from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. Finally, Evercore ISI boosted their target price on Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and a consensus price target of $138.94.

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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