Volterra Technologies LP Purchases New Stake in Phillips 66 $PSX

Volterra Technologies LP acquired a new position in Phillips 66 (NYSE:PSX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,281 shares of the oil and gas company’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Accordant Advisory Group Inc lifted its position in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. SWAN Capital LLC grew its position in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. NFSG Corp increased its stake in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares during the period. Finally, Stephens Consulting LLC increased its stake in Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,553,920. This represents a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,021 shares of company stock worth $7,195,257 over the last three months. Company insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $206.36 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $82.74 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 0.28 and a beta of 0.69. Phillips 66 has a 12-month low of $118.07 and a 12-month high of $216.08. The company has a 50 day moving average price of $181.93 and a two-hundred day moving average price of $168.00.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.90) EPS. As a group, equities analysts predict that Phillips 66 will post 19.84 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 Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.5%. Phillips 66’s dividend payout ratio is currently 50.05%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PSX shares. Barclays lifted their target price on shares of Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $208.00 price target on shares of Phillips 66 in a research note on Thursday. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their target price on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.44.

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.