AlTi Global Inc. Boosts Stock Holdings in Phillips 66 $PSX

AlTi Global Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 5.7% during the second quarter, HoldingsChannel.com reports. The firm owned 44,629 shares of the oil and gas company’s stock after acquiring an additional 2,397 shares during the period. AlTi Global Inc.’s holdings in Phillips 66 were worth $5,560,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PSX. Wolff Wiese Magana LLC raised its stake in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. von Borstel & Associates Inc. purchased a new position in Phillips 66 during the first quarter worth approximately $27,000. Olde Wealth Management LLC purchased a new position in Phillips 66 during the first quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Phillips 66 during the first quarter worth approximately $29,000. Finally, Pinpoint Asset Management Ltd purchased a new position in Phillips 66 during the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Hayes acquired 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 9,850 shares of company stock valued at $1,188,910 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $135.87 on Friday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company has a market capitalization of $54.91 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 1.72 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The firm’s fifty day moving average price is $131.28 and its 200 day moving average price is $121.50.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period last year, the business earned $2.31 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Analyst Ratings Changes

A number of brokerages have recently commented on PSX. TD Cowen raised their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. UBS Group raised their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Morgan Stanley raised their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Piper Sandler raised their target price on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.