United Services Automobile Association Makes New $1.18 Million Investment in Phillips 66 $PSX

Key Points

• The United Services Automobile Association recently invested approximately $1.18 million in Phillips 66, acquiring 9,709 shares of the company’s stock.
• Phillips 66 reported an EPS of $2.38 for the last quarter, exceeding analysts' expectations by $0.59, alongside a revenue of $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share, resulting in a 3.7% yield, despite a high dividend payout ratio of 115.38%.

United Services Automobile Association acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,709 shares of the oil and gas company's stock, valued at approximately $1,182,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Forum Financial Management LP lifted its holdings in Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock valued at $853,000 after acquiring an additional 77 shares during the period. WealthTrust Axiom LLC increased its holdings in shares of Phillips 66 by 1.1% during the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company's stock valued at $894,000 after purchasing an additional 81 shares in the last quarter. CWC Advisors LLC. lifted its stake in shares of Phillips 66 by 1.0% in the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock valued at $1,110,000 after purchasing an additional 92 shares during the period. Hager Investment Management Services LLC boosted its holdings in Phillips 66 by 7.2% during the first quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after buying an additional 96 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in Phillips 66 by 14.4% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock valued at $95,000 after buying an additional 97 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Phillips 66 news, 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 value of $1,225,000.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. This represents a 14.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president owned 43,373 shares in the company, valued at approximately $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 9,850 shares of company stock worth $1,188,910 in the last 90 days. Corporate insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on PSX. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Wells Fargo & Company dropped their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Cantor Fitzgerald started coverage on Phillips 66 in a research note on Wednesday, June 18th. They set a "neutral" rating for the company. TD Cowen increased their target price on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus price target of $135.60.

Phillips 66 Stock Down 1.1%

Shares of PSX opened at $130.14 on Tuesday. The stock has a 50 day moving average price of $126.47 and a 200 day moving average price of $119.35. Phillips 66 has a one year low of $91.01 and a one year high of $140.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market capitalization of $52.59 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 2.05 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter in the previous year, the company posted $2.31 EPS. Equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio is currently 115.38%.

Phillips 66 Company Profile

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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