MSH Capital Advisors LLC Makes New Investment in Phillips 66 $PSX

MSH Capital Advisors LLC purchased a new stake in Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,250 shares of the oil and gas company’s stock, valued at approximately $549,000.

Other institutional investors also recently made changes to their positions in the company. MUFG Securities EMEA plc increased its position in shares of Phillips 66 by 113.5% in the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after acquiring an additional 8,783 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Phillips 66 by 478.4% in the 4th quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock valued at $8,167,000 after acquiring an additional 52,348 shares during the period. Truist Financial Corp lifted its holdings in shares of Phillips 66 by 1.6% during the 4th quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after acquiring an additional 10,585 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Phillips 66 by 543.7% during the 1st quarter. Fifth Third Bancorp now owns 128,156 shares of the oil and gas company’s stock valued at $23,348,000 after acquiring an additional 108,248 shares in the last quarter. Finally, National Pension Service boosted its position in Phillips 66 by 2.0% during the 4th quarter. National Pension Service now owns 614,059 shares of the oil and gas company’s stock worth $79,238,000 after purchasing an additional 11,960 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX opened at $242.53 on Thursday. The company has a fifty day simple moving average of $196.37 and a 200 day simple moving average of $178.31. The firm has a market cap of $96.77 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.18 and a beta of 0.68. Phillips 66 has a twelve month low of $122.13 and a twelve month high of $244.73. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The firm had revenue of $52.04 billion for the quarter, compared to the consensus estimate of $43.60 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. Equities research analysts expect that Phillips 66 will post 24.44 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s payout ratio is presently 28.95%.

Phillips 66 announced that its board has authorized a share repurchase program on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PSX shares. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and increased their price target for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. BMO Capital Markets boosted their price objective on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Wells Fargo & Company upped their target price on Phillips 66 from $201.00 to $239.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Scotiabank increased their target price on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Morgan Stanley raised their target price on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.56.

Insiders Place Their Bets

In other Phillips 66 news, EVP Brian Mandell sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the sale, the executive vice president owned 61,595 shares in the company, valued at $13,242,925. This trade represents a 32.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president owned 39,094 shares in the company, valued at $8,747,673.44. This represents a 57.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 100,507 shares of company stock valued at $21,770,810 in the last three months. 0.40% of the stock is owned by insiders.

Phillips 66 Profile

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.