Marathon Strategic Advisors LLC Makes New $552,000 Investment in Phillips 66 $PSX

Marathon Strategic Advisors LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,059 shares of the oil and gas company’s stock, valued at approximately $552,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after acquiring an additional 5,978,841 shares during the period. Elliott Investment Management L.P. grew its position in Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC raised its stake in Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after purchasing an additional 1,532,967 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after purchasing an additional 537,245 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $828,442,000 after purchasing an additional 682,459 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was 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 owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 86,093 shares of company stock worth $11,933,256. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Mizuho lifted their price target on Phillips 66 from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Raymond James Financial raised their price objective on Phillips 66 from $153.00 to $169.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Wolfe Research increased their price target on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Finally, Evercore ISI raised their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $148.35.

Phillips 66 Stock Down 0.1%

Shares of Phillips 66 stock opened at $128.95 on Friday. The firm has a market cap of $51.96 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 0.67 and a beta of 0.92. The stock has a 50-day simple moving average of $135.84 and a 200-day simple moving average of $129.90. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $144.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the prior year, the company posted $2.04 earnings per share. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, November 17th. Phillips 66’s payout ratio is presently 131.15%.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.