United Capital Financial Advisors LLC bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 35,317 shares of the oil and gas company's stock, valued at approximately $5,970,000.
A number of other large investors have also modified their holdings of PSX. NFSG Corp lifted its holdings in shares of Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company's stock valued at $27,000 after buying an additional 75 shares during the period. Axiom Investment Management LLC acquired a new position in Phillips 66 during the first quarter worth $27,000. Compass Financial Management LLC acquired a new position in Phillips 66 during the second quarter worth $28,000. Kelleher Financial Advisors purchased a new position in Phillips 66 in the second quarter worth $29,000. Finally, J.Safra Asset Management Corp purchased a new position in Phillips 66 in the second quarter worth $30,000. 76.93% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have commented on PSX shares. Barclays boosted their target price on shares of Phillips 66 from $183.00 to $216.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. Tudor Pickering upgraded shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Phillips 66 from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 26th. Jefferies Financial Group boosted their price objective on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a "hold" rating in a report on Thursday, July 9th. Finally, The Goldman Sachs Group upped their target price on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $206.56.
Read Our Latest Stock Report on Phillips 66
Phillips 66 Stock Down 0.7%
PSX opened at $240.58 on Friday. The business's fifty day moving average is $204.55 and its two-hundred day moving average is $182.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The company has a market cap of $96.00 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.18 and a beta of 0.68. Phillips 66 has a one year low of $126.74 and a one year high of $246.95.
Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating analysts' consensus estimates of $7.50 by $1.91. The business 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 last year, the business posted $2.38 earnings per share. Analysts anticipate that Phillips 66 will post 23.86 EPS for the current fiscal year.
Phillips 66 Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66's dividend payout ratio (DPR) is 28.95%.
Phillips 66 announced that its board has initiated a share repurchase plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.
Insider Buying and Selling at Phillips 66
In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Mandell sold 30,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at $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 90 days, insiders have sold 100,507 shares of company stock valued at $21,770,810. Insiders own 0.40% of the company's stock.
About Phillips 66
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Phillips 66, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Phillips 66 wasn't on the list.
While Phillips 66 currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom extends far beyond the biggest tech names. Discover 10 companies supplying the memory, storage, networking, semiconductor manufacturing, and power infrastructure that make AI possible. Learn where the next wave of AI investment opportunities may emerge—and the key risks investors should watch as the global AI buildout accelerates.
Get This Free Report
