Phillips 66 (NYSE:PSX) Shares Bought by Stratos Investment Management LLC

Stratos Investment Management LLC boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,683 shares of the oil and gas company's stock after purchasing an additional 5,762 shares during the period. Stratos Investment Management LLC's holdings in Phillips 66 were worth $3,665,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PSX. Pacific Center for Financial Services purchased a new stake in shares of Phillips 66 in the 4th quarter valued at $27,000. von Borstel & Associates Inc. purchased a new stake in shares of Phillips 66 in the 1st quarter valued at $27,000. Graney & King LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at $28,000. Olde Wealth Management LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at $28,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PSX. Cantor Fitzgerald began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Piper Sandler boosted their target price on shares of Phillips 66 from $131.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday. Raymond James Financial decreased their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research note on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.07.

Phillips 66 Price Performance

Shares of PSX traded down $2.73 during mid-day trading on Friday, hitting $131.66. 1,679,501 shares of the company were exchanged, compared to its average volume of 3,119,398. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The company has a 50 day moving average of $119.47 and a 200-day moving average of $117.73. The stock has a market cap of $53.64 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter last year, the company earned $1.90 EPS. Analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.65%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the sale, the executive vice president owned 43,373 shares of the company's stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

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.