Chicago Partners Investment Group LLC Has $1.02 Million Position in Phillips 66 $PSX

Chicago Partners Investment Group LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 7.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,004 shares of the oil and gas company’s stock after purchasing an additional 544 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Phillips 66 were worth $1,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares in the last quarter. Invesco Ltd. raised its stake in shares of Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after purchasing an additional 653,248 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Phillips 66 by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock worth $466,886,000 after acquiring an additional 377,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Phillips 66 by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock worth $383,197,000 after acquiring an additional 100,321 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PSX shares. Wells Fargo & Company started coverage on Phillips 66 in a report on Friday. They issued an “overweight” rating and a $154.00 price objective on the stock. Raymond James Financial reissued an “outperform” rating and set a $150.00 target price (up from $145.00) on shares of Phillips 66 in a report on Friday. Argus upgraded Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Finally, Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $141.50.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $130.42 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The stock’s 50 day moving average is $130.67 and its 200-day moving average is $121.11. The firm has a market capitalization of $52.71 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.79 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the prior year, the firm earned $2.31 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 115.38%.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sigmund L. Cornelius purchased 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. The trade was a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by corporate insiders.

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.