Sustainable Insight Capital Management LLC Invests $1.46 Million in Phillips 66 (NYSE:PSX)

Key Points

• Sustainable Insight Capital Management LLC has acquired a new position in Phillips 66, purchasing 11,800 shares valued at around $1.46 million during the first quarter of the year.
• Phillips 66 reported an earnings per share (EPS) of $2.38 for the last quarter, exceeding analysts' estimates of $1.79, along with a revenue of $33.77 billion.
• The company announced a quarterly dividend of $1.20, representing an annualized dividend of $4.80 and a dividend yield of 4.1%, although its payout ratio is notably high at 115.38%.

Sustainable Insight Capital Management LLC purchased a new position in Phillips 66 (NYSE:PSX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,800 shares of the oil and gas company's stock, valued at approximately $1,457,000.

Other institutional investors have also bought and sold shares of the company. Cohen & Steers Inc. grew its position in shares of Phillips 66 by 40.3% during the fourth quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company's stock valued at $10,443,000 after purchasing an additional 26,318 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at about $4,333,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Phillips 66 by 20.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock valued at $19,625,000 after purchasing an additional 26,825 shares in the last quarter. Alta Advisers Ltd purchased a new position in shares of Phillips 66 during the first quarter valued at about $253,000. Finally, Advisory Resource Group grew its position in shares of Phillips 66 by 6.8% during the first quarter. Advisory Resource Group now owns 256,327 shares of the oil and gas company's stock valued at $31,651,000 after purchasing an additional 16,300 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

PSX has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Barclays lifted their price target on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Argus upgraded Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Piper Sandler reiterated a "neutral" rating and issued a $145.00 price target (up previously from $144.00) on shares of Phillips 66 in a research report on Monday, August 4th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $136.20.

Phillips 66 Price Performance

Phillips 66 stock traded up $2.46 during midday trading on Wednesday, reaching $122.50. The company had a trading volume of 2,359,149 shares, compared to its average volume of 2,514,303. The company has a market capitalization of $49.50 billion, a P/E ratio of 29.45, a P/E/G ratio of 1.65 and a beta of 1.09. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.85. The firm's fifty day simple moving average is $123.45 and its 200-day simple moving average is $118.89. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The firm 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 period last year, the company posted $2.31 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. Phillips 66's dividend payout ratio is presently 115.38%.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the acquisition, the director owned 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the 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 sale, the executive vice president owned 56,838 shares of the company's stock, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 1,939 shares of company stock worth $237,725 in the last 90 days. Corporate 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.