Sapient Capital LLC Takes $449,000 Position in Phillips 66 $PSX

Sapient Capital LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,469 shares of the oil and gas company’s stock, valued at approximately $449,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in shares of Phillips 66 by 57.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock valued at $7,734,000 after acquiring an additional 20,742 shares during the period. First National Bank of Omaha acquired a new stake in shares of Phillips 66 during the 3rd quarter valued at approximately $2,357,000. TD Asset Management Inc lifted its position in shares of Phillips 66 by 15.5% during the 3rd quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock valued at $23,724,000 after acquiring an additional 23,364 shares during the period. Caprock Group LLC acquired a new stake in shares of Phillips 66 during the 3rd quarter valued at approximately $2,412,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Phillips 66 by 15.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,172,158 shares of the oil and gas company’s stock valued at $159,437,000 after acquiring an additional 160,407 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 News Roundup

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66 said it will move forward with the Zeus Gas Plant in the Permian Basin and a third Coastal Bend Fractionator in Texas, both of which are expected to come online in 2028 and expand its natural gas and NGL processing network. Reuters article
• Positive Sentiment: The projects fit within Phillips 66’s planned $2.0 billion to $2.5 billion capital spending program, reinforcing management’s commitment to growth while keeping the investment plan contained. Offshore Technology article
• Positive Sentiment: Investors are also reacting to continued momentum in PSX shares and recent earnings strength, which adds support to the stock’s valuation after the company beat Q1 profit estimates last month. Zacks article

Insider Activity

In other news, EVP Brian Mandell sold 42,800 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at approximately $10,442,200.35. This trade represents a 41.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 114,029 shares of company stock worth $19,641,455. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Barclays lifted their price objective on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Jefferies Financial Group downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Morgan Stanley restated an “overweight” rating and set a $180.00 price objective on shares of Phillips 66 in a research report on Thursday, April 30th. Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, Scotiabank lifted their price objective on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.11.

Phillips 66 Stock Up 1.6%

Shares of NYSE PSX opened at $182.59 on Wednesday. Phillips 66 has a 52-week low of $109.75 and a 52-week high of $190.61. The firm has a fifty day moving average of $171.39 and a 200-day moving average of $152.57. The stock has a market capitalization of $73.21 billion, a PE ratio of 17.99, a P/E/G ratio of 0.26 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the prior year, the company earned ($0.90) EPS. The firm’s revenue was up 6.9% on a year-over-year basis. On average, analysts anticipate that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. Phillips 66’s payout ratio is currently 50.05%.

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.