Nisa Investment Advisors LLC Boosts Holdings in Phillips 66 $PSX

Nisa Investment Advisors LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,549 shares of the oil and gas company’s stock after purchasing an additional 1,283 shares during the period. Nisa Investment Advisors LLC’s holdings in Phillips 66 were worth $22,017,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Elliott Investment Management L.P. increased its position in Phillips 66 by 1,929.0% in the first 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 buying an additional 14,950,000 shares during the last quarter. Chronos Wealth Management LLC purchased a new stake in Phillips 66 in the 2nd quarter worth about $281,000. Alta Advisers Ltd purchased a new stake in Phillips 66 in the 1st quarter worth about $253,000. Sustainable Insight Capital Management LLC purchased a new position in shares of Phillips 66 in the first quarter worth about $1,457,000. Finally, Evergreen Wealth Solutions LLC purchased a new position in shares of Phillips 66 in the first quarter worth about $292,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes bought 8,350 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Friday, September 26th. The stock was 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 owned 34,587 shares of the company’s stock, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 9,850 shares of company stock worth $1,188,910 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

Phillips 66 stock opened at $135.07 on Monday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The business has a 50-day simple moving average of $131.51 and a 200 day simple moving average of $122.13. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock has a market cap of $54.58 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.77 and a beta of 1.11.

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

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s payout ratio is presently 115.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. Evercore ISI lifted their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Piper Sandler lifted their price target on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. TD Cowen lifted their price target on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and lifted their target price for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.50.

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.