Phillips 66 $PSX Stake Raised by Bayforest Capital Ltd

Bayforest Capital Ltd increased its holdings in Phillips 66 (NYSE:PSX) by 318.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,190 shares of the oil and gas company’s stock after acquiring an additional 5,472 shares during the period. Bayforest Capital Ltd’s holdings in Phillips 66 were worth $858,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares in the last quarter. Chronos Wealth Management LLC purchased a new stake in Phillips 66 in the 2nd quarter worth about $281,000. Wealth Enhancement Advisory Services LLC increased its position in Phillips 66 by 20.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock worth $19,625,000 after purchasing an additional 26,825 shares during the last quarter. Alta Advisers Ltd acquired a new position in Phillips 66 in the 1st quarter worth about $253,000. Finally, Sustainable Insight Capital Management LLC acquired a new position in Phillips 66 in the 1st quarter worth about $1,457,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PSX. Raymond James Financial upped their target price on Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 9th. UBS Group boosted their target price on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Argus upgraded Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Morgan Stanley boosted their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $140.75.

Insiders Place Their Bets

In other Phillips 66 news, Director Michael A. Heim acquired 1,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the transaction, the director owned 12,043 shares in the company, valued at $1,517,056.71. This trade represents a 9.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sigmund L. Cornelius acquired 500 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was acquired 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 in the company, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by company insiders.

Phillips 66 Price Performance

Phillips 66 stock opened at $129.82 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market capitalization of $52.46 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The business has a 50 day simple moving average of $129.67 and a 200 day simple moving average of $120.61.

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

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 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.