Mattern Capital Management LLC Acquires 2,012 Shares of Phillips 66 $PSX

Mattern Capital Management LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 2.2% during the second quarter, Holdings Channel.com reports. The fund owned 94,198 shares of the oil and gas company’s stock after buying an additional 2,012 shares during the quarter. Phillips 66 accounts for 1.4% of Mattern Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Mattern Capital Management LLC’s holdings in Phillips 66 were worth $11,238,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PSX. Elliott Investment Management L.P. increased 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 worth $1,941,723,000 after acquiring an additional 14,950,000 shares during the last quarter. Nuveen LLC bought a new position in Phillips 66 in the 1st quarter worth about $156,482,000. Price T Rowe Associates Inc. MD increased its stake in Phillips 66 by 11.3% in 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 acquiring an additional 682,459 shares during the last quarter. Invesco Ltd. increased its stake in Phillips 66 by 15.9% in the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after acquiring an additional 653,248 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in Phillips 66 in the 2nd quarter worth about $72,897,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays upped their price objective on Phillips 66 from $115.00 to $127.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Compass Point assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a “buy” rating for the company. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a report on Wednesday, June 18th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Finally, UBS Group upped their price objective on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.44.

Phillips 66 Trading Up 0.3%

Shares of PSX stock opened at $135.02 on Friday. The stock has a market capitalization of $54.57 billion, a PE ratio of 32.46, a P/E/G ratio of 1.95 and a beta of 1.11. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The business has a 50-day moving average of $128.72 and a 200 day moving average of $120.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

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, beating the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion during the quarter, compared to analysts’ expectations 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 business posted $2.31 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio is currently 115.38%.

Insider Buying and Selling

In related news, Director Michael A. Heim bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the acquisition, the director directly owned 12,043 shares of the company’s stock, valued at $1,517,056.71. The trade was a 9.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 9,850 shares of company stock valued at $1,188,910 and have sold 13,179 shares valued at $1,779,165. 0.22% of the stock is owned by company insiders.

About Phillips 66

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.