Phillips 66 $PSX Shares Bought by LRI Investments LLC

LRI Investments LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 29.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,668 shares of the oil and gas company’s stock after purchasing an additional 612 shares during the quarter. LRI Investments LLC’s holdings in Phillips 66 were worth $318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Phillips 66 by 15.2% in the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock worth $1,190,000 after buying an additional 1,268 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in Phillips 66 by 31.0% in the 1st quarter. Simon Quick Advisors LLC now owns 2,309 shares of the oil and gas company’s stock worth $285,000 after buying an additional 547 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Phillips 66 by 1.3% in the 1st quarter. Fifth Third Bancorp now owns 25,567 shares of the oil and gas company’s stock worth $3,157,000 after buying an additional 328 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new position in Phillips 66 in the 1st quarter worth $2,523,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

PSX stock opened at $127.01 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a market cap of $51.33 billion, a P/E ratio of 30.53, a P/E/G ratio of 1.86 and a beta of 1.11. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The stock’s 50 day simple moving average is $129.51 and its 200 day simple moving average is $120.56.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $2.31 earnings per share. As a group, equities research analysts predict 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 Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.8%. Phillips 66’s dividend payout ratio is 115.38%.

Insider Buying and Selling at Phillips 66

In related news, Director Sigmund L. Cornelius purchased 500 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were acquired at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 9,850 shares of company stock worth $1,188,910 in the last ninety days. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PSX shares. Raymond James Financial boosted their price target on Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Compass Point began coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a “buy” rating on the stock. Mizuho upped their target price on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and upped their target price for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group upped their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $140.75.

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.