Vanguard Personalized Indexing Management LLC Purchases 8,461 Shares of Phillips 66 $PSX

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Phillips 66 by 19.0%, now owning 52,947 shares valued at approximately $6.32 million after purchasing an additional 8,461 shares during Q2.
• Phillips 66's stock recently saw a 2.4% increase, with analysts giving it an average rating of "Moderate Buy" and a consensus price target of $140.75.
• The company announced a quarterly dividend of $1.20 per share, with a payout date of December 1, representing an annualized yield of 3.7%.

Vanguard Personalized Indexing Management LLC grew its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 19.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,947 shares of the oil and gas company's stock after purchasing an additional 8,461 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Phillips 66 were worth $6,322,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PSX. Wolff Wiese Magana LLC increased its position in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 during the 1st quarter valued at about $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter valued at about $29,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Phillips 66 during the 1st quarter valued at about $29,000. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions at Phillips 66

In other news, Director Sigmund L. Cornelius bought 500 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Hayes bought 8,350 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 9,850 shares of company stock worth $1,188,910 over the last 90 days. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Zacks Research upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Friday, September 26th. Citigroup cut Phillips 66 from a "buy" rating to a "neutral" rating and increased their target price for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Cantor Fitzgerald assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating for the company. Barclays increased their target price on Phillips 66 from $127.00 to $132.00 and gave the company an "equal weight" rating in a report on Tuesday, October 7th. Finally, TD Cowen increased their target price on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.75.

Phillips 66 Trading Up 2.4%

NYSE PSX opened at $129.82 on Tuesday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35. 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 50 day simple moving average of $129.67 and a two-hundred day simple moving average of $120.61. The stock has a market cap of $52.46 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11.

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

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66's dividend payout ratio is currently 115.38%.

Phillips 66 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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