Empowered Funds LLC Has $22.35 Million Stake in Phillips 66 $PSX

Empowered Funds LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 25.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,663 shares of the oil and gas company’s stock after selling 42,948 shares during the period. Empowered Funds LLC’s holdings in Phillips 66 were worth $22,347,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Accordant Advisory Group Inc boosted its stake in Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 during the 4th quarter worth $27,000. NFSG Corp raised its position in shares of Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. SWAN Capital LLC raised its position in shares of Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. Finally, Sfam LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $34,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In other news, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the sale, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,107 shares of company stock valued at $8,057,584 in the last 90 days. 0.40% of the stock is currently owned by company insiders.

Phillips 66 Stock Down 0.9%

NYSE:PSX opened at $206.03 on Wednesday. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $216.08. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market cap of $82.60 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 0.17 and a beta of 0.69. The stock has a 50-day moving average price of $183.56 and a two-hundred day moving average price of $169.46.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.90) earnings per share. As a group, equities analysts expect that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent research reports. UBS Group raised their price target on Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup upped their price objective on Phillips 66 from $183.00 to $204.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Morgan Stanley increased their target price on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Raymond James Financial increased their price target on shares of Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, TD Cowen boosted their price objective on shares of Phillips 66 from $220.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.72.

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.