PDS Planning Inc Buys 503 Shares of Phillips 66 $PSX

PDS Planning Inc raised its stake in shares of Phillips 66 (NYSE:PSX) by 14.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,924 shares of the oil and gas company’s stock after purchasing an additional 503 shares during the period. PDS Planning Inc’s holdings in Phillips 66 were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Elliott Investment Management L.P. boosted its holdings in shares of Phillips 66 by 1,929.0% during 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 purchasing an additional 14,950,000 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Phillips 66 by 9,530.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after purchasing an additional 1,431,450 shares during the last quarter. Nuveen LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at about $156,482,000. Price T Rowe Associates Inc. MD raised its position 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 valued at $828,442,000 after buying an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. raised its position 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 valued at $588,489,000 after buying an additional 653,248 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, Director Sigmund L. Cornelius purchased 500 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of the firm’s stock in a transaction dated 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 purchase, the director directly owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 9,850 shares of company stock worth $1,188,910. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $127.01 on Friday. 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 has a 1-year low of $91.01 and a 1-year high of $142.35. The firm has a market capitalization of $51.33 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. The company’s 50-day moving average is $129.51 and its 200 day moving average is $120.59.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same period in the prior year, the company posted $2.31 EPS. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is currently 115.38%.

Wall Street Analyst Weigh In

PSX has been the topic of several recent research reports. Piper Sandler upped their target price on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a research report on Wednesday, June 18th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a “neutral” rating on the stock. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $140.75.

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.