WINTON GROUP Ltd Purchases New Holdings in Phillips 66 $PSX

WINTON GROUP Ltd acquired a new position in Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 52,543 shares of the oil and gas company’s stock, valued at approximately $8,882,000.

Several other institutional investors also recently modified their holdings of the company. NFSG Corp lifted its position in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC bought a new stake in Phillips 66 in the 1st quarter valued at $27,000. SWAN Capital LLC increased its holdings in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the period. Compass Financial Management LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $28,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE:PSX opened at $261.14 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The firm has a market cap of $104.20 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.19 and a beta of 0.71. Phillips 66 has a 12 month low of $126.74 and a 12 month high of $263.66. The company’s 50-day moving average price is $219.55 and its two-hundred day moving average price is $188.21.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share 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 company had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. During the same quarter last year, the business posted $2.38 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 24.07 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is currently 28.95%.

Phillips 66 announced that its Board of Directors has approved a share repurchase program on Friday, July 31st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Citigroup reissued a “neutral” rating on shares of Phillips 66 in a research report on Thursday, August 6th. Morgan Stanley upped their price objective on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Barclays increased their target price on Phillips 66 from $183.00 to $216.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. TD Cowen raised their target price on Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.76.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin Mitchell sold 11,021 shares of Phillips 66 stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Sutherland sold 3,523 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the transaction, the executive vice president directly owned 27,537 shares in the company, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their position. 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. In the last 90 days, insiders have sold 100,507 shares of company stock worth $21,770,810. 0.40% of the stock is owned by company insiders.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an energy company that operates across the midstream, chemicals, refining and marketing sectors. Headquartered in Houston, Texas, the company was established in 2012 when ConocoPhillips separated its downstream businesses into an independent company.

The company’s midstream operations include transportation, processing, storage and other infrastructure for crude oil, natural gas and natural gas liquids. Phillips 66 also owns and operates refineries that process crude oil into transportation fuels, lubricants, specialty products and other refined petroleum products.

Phillips 66 markets gasoline, diesel and other fuels under the Phillips 66, Conoco and 76 brands, primarily in the United States.