Quantbot Technologies LP Invests $4.41 Million in Phillips 66 $PSX

Quantbot Technologies LP purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,093 shares of the oil and gas company’s stock, valued at approximately $4,411,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PSX. Key Client Fiduciary Advisors LLC grew its position in Phillips 66 by 3.5% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock valued at $275,000 after buying an additional 55 shares in the last quarter. Threadgill Financial LLC increased its stake in Phillips 66 by 3.5% during the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock valued at $286,000 after buying an additional 58 shares during the period. Calamos Wealth Management LLC raised its position in shares of Phillips 66 by 2.0% during the 2nd quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company’s stock worth $521,000 after buying an additional 60 shares in the last quarter. Somerset Trust Co raised its position in shares of Phillips 66 by 0.3% during the 2nd quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company’s stock worth $3,601,000 after buying an additional 63 shares in the last quarter. Finally, Clifford Group LLC lifted its stake in shares of Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after acquiring an additional 64 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Up 0.2%

NYSE:PSX opened at $243.34 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. Phillips 66 has a fifty-two week low of $124.88 and a fifty-two week high of $246.95. The stock’s 50-day moving average is $198.87 and its two-hundred day moving average is $179.70. The stock has a market cap of $97.10 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. The business had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period in the prior year, the firm earned $2.38 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 23.86 earnings per share for the current fiscal year.

Phillips 66 declared that its Board of Directors has authorized a stock repurchase program on Friday, July 31st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio is currently 28.95%.

Insider Activity at Phillips 66

In other news, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the transaction, the executive vice president directly owned 61,595 shares of the company’s stock, valued at approximately $13,242,925. This represents a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard G. Harbison sold 52,100 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the transaction, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. This trade represents a 57.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 100,507 shares of company stock worth $21,770,810 in the last quarter. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $201.00 to $239.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Jefferies Financial Group increased their price target on Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Guggenheim raised Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. UBS Group boosted their price objective on Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.56.

About Phillips 66

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.