NEOS Investment Management LLC Grows Stock Holdings in Phillips 66 $PSX

NEOS Investment Management LLC grew its position in Phillips 66 (NYSE:PSX) by 13.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 65,327 shares of the oil and gas company’s stock after acquiring an additional 7,685 shares during the period. NEOS Investment Management LLC’s holdings in Phillips 66 were worth $11,044,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Sutherland sold 3,523 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The shares were 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 of the company’s stock, valued at $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. 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 sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is owned by insiders.

Phillips 66 Price Performance

Shares of PSX opened at $255.13 on Friday. The firm has a market capitalization of $101.80 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 0.19 and a beta of 0.71. The firm’s fifty day simple moving average is $214.38 and its 200-day simple moving average is $185.89. Phillips 66 has a twelve month low of $126.74 and a twelve month high of $260.68. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. The firm had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter in the previous year, the firm posted $2.38 earnings per share. Equities analysts forecast that Phillips 66 will post 24.07 EPS for the current fiscal year.

Phillips 66 declared that its Board of Directors has initiated a stock repurchase plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders 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 2.0%. The ex-dividend date of this dividend was Tuesday, August 18th. Phillips 66’s payout ratio is 28.95%.

Analyst Ratings Changes

PSX has been the subject of several recent research reports. Jefferies Financial Group raised their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Barclays increased their price objective on Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. The Goldman Sachs Group lifted their target price on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. UBS Group boosted their target price on Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, TD Cowen upped their price target on Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $218.94.

Phillips 66 Company 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.