OFI Invest Asset Management Buys 21,384 Shares of Phillips 66 $PSX

OFI Invest Asset Management boosted its stake in shares of Phillips 66 (NYSE:PSX) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 308,973 shares of the oil and gas company’s stock after purchasing an additional 21,384 shares during the period. OFI Invest Asset Management owned about 0.08% of Phillips 66 worth $36,860,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its position in Phillips 66 by 62.1% during the second 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 period. von Borstel & Associates Inc. purchased a new position in shares of Phillips 66 in the first quarter worth approximately $27,000. Olde Wealth Management LLC bought a new stake in Phillips 66 during the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in Phillips 66 during the first quarter valued at approximately $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Phillips 66 in the first quarter worth approximately $29,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 3.1%

Shares of PSX opened at $127.01 on Friday. 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 has a 1 year low of $91.01 and a 1 year high of $142.35. The company has a 50 day simple moving average of $129.51 and a two-hundred day simple moving average of $120.59. The firm has a market cap of $51.33 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period last year, the firm posted $2.31 EPS. On average, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Analyst Ratings Changes

PSX has been the subject of a number of recent research reports. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Cantor Fitzgerald assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a “neutral” rating for the company. Morgan Stanley lifted their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Jefferies Financial Group boosted their price objective on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday. Finally, Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.75.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory Hayes acquired 8,350 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 9,850 shares of company stock valued at $1,188,910. 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.