3,781 Shares in Phillips 66 $PSX Purchased by Patron Partners LLC

Patron Partners LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 3,781 shares of the oil and gas company’s stock, valued at approximately $639,000.

Several other hedge funds have also recently bought and sold shares of the company. NFSG Corp raised its position in shares of Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Axiom Investment Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $27,000. SWAN Capital LLC boosted 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 worth $27,000 after acquiring an additional 190 shares in the last quarter. Kelleher Financial Advisors bought a new position in Phillips 66 in the second quarter valued at approximately $29,000. Finally, J.Safra Asset Management Corp bought a new position in Phillips 66 in the second quarter valued at approximately $30,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSX. Piper Sandler raised their target price on Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Guggenheim raised Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Wells Fargo & Company upped their price objective on Phillips 66 from $201.00 to $239.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Finally, Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $206.56.

Phillips 66 Stock Performance

NYSE PSX opened at $243.34 on Friday. The firm’s fifty day moving average price is $198.87 and its two-hundred day moving average price is $179.44. The stock has a market cap of $97.10 billion, a PE ratio of 13.87, a PEG ratio of 0.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. Phillips 66 has a fifty-two week low of $124.88 and a fifty-two week high of $246.95.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. During the same period in the prior year, the company earned $2.38 EPS. On average, equities analysts expect that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.1%. Phillips 66’s dividend payout ratio (DPR) is currently 28.95%.

Phillips 66 declared that its board has initiated a stock buyback plan on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 100,507 shares of company stock valued at $21,770,810. Company insiders own 0.40% of the company’s stock.

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.