Phillips 66 $PSX Shares Bought by Rossby Financial LCC

Rossby Financial LCC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,600 shares of the oil and gas company’s stock after acquiring an additional 193 shares during the quarter. Rossby Financial LCC’s holdings in Phillips 66 were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Elliott Investment Management L.P. lifted its position in Phillips 66 by 1,929.0% during 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 during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Phillips 66 by 11.3% during the 1st 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 buying an additional 682,459 shares in the last quarter. Invesco Ltd. raised its stake in shares of Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after buying an additional 653,248 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Phillips 66 by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock valued at $466,886,000 after purchasing an additional 377,132 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Phillips 66 by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock valued at $383,197,000 after purchasing an additional 100,321 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other news, Director Sigmund L. Cornelius bought 500 shares of Phillips 66 stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares of the company’s stock, valued at $2,661,637.65. The trade was a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Hayes bought 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock worth $1,188,910 over the last ninety days. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and raised their price target for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. UBS Group raised their price target on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Jefferies Financial Group raised their price target on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Finally, Argus raised Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

Phillips 66 Price Performance

PSX stock opened at $135.40 on Tuesday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The stock’s fifty day simple moving average is $131.75 and its 200-day simple moving average is $122.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $54.72 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 1.77 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter last year, the firm earned $2.31 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

Phillips 66 Company 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.