Glass Jacobson Investment Advisors llc Has $101,000 Stock Position in Phillips 66 $PSX

Glass Jacobson Investment Advisors llc lifted its stake in shares of Phillips 66 (NYSE:PSX) by 299.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 850 shares of the oil and gas company’s stock after purchasing an additional 637 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in Phillips 66 were worth $101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elliott Investment Management L.P. boosted its stake in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC increased its position in Phillips 66 by 9,530.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after acquiring an additional 1,431,450 shares during the period. Nuveen LLC acquired a new position in shares of Phillips 66 during the first quarter worth $156,482,000. Price T Rowe Associates Inc. MD grew its stake in shares of Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after purchasing an additional 653,248 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the transaction, the director owned 12,043 shares of the company’s stock, valued at $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 9,850 shares of company stock valued at $1,188,910 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Down 0.5%

Shares of NYSE:PSX opened at $135.07 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The business’s 50 day simple moving average is $131.51 and its two-hundred day simple moving average is $122.00. The firm has a market cap of $54.58 billion, a P/E ratio of 32.47, a PEG ratio of 1.77 and a beta of 1.11.

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. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. As a group, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm 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. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio is presently 115.38%.

Analysts Set New Price Targets

Several brokerages have commented on PSX. Jefferies Financial Group lifted their target price on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Morgan Stanley upped their target price on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Raymond James Financial reissued an “outperform” rating and issued a $150.00 price objective (up from $145.00) on shares of Phillips 66 in a research report on Friday, October 17th. UBS Group upped their target price on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Piper Sandler lifted their target price on Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $141.50.

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.