Phillips 66 $PSX Shares Acquired by Alta Capital Management LLC

Alta Capital Management LLC boosted its stake in Phillips 66 (NYSE:PSX) by 8.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,564 shares of the oil and gas company’s stock after buying an additional 852 shares during the quarter. Alta Capital Management LLC’s holdings in Phillips 66 were worth $1,260,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its stake in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in Phillips 66 in the 1st quarter valued at approximately $27,000. Olde Wealth Management LLC purchased a new stake in Phillips 66 in the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Phillips 66 in the 1st quarter valued at approximately $29,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in Phillips 66 in the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PSX shares. Barclays upped their target price on Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Jefferies Financial Group increased their price target on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. UBS Group increased their price target on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Finally, Piper Sandler increased their price target on Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Two 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 stock currently has an average rating of “Moderate Buy” and an average price target of $140.75.

Phillips 66 Trading Down 0.9%

Shares of PSX opened at $129.69 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $52.41 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. The stock’s fifty day simple moving average is $130.05 and its 200 day simple moving average is $120.75. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the firm earned $2.31 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current 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 issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is currently 115.38%.

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.