Partners Capital Investment Group LLP Makes New Investment in Phillips 66 $PSX

Partners Capital Investment Group LLP acquired a new position in shares of Phillips 66 (NYSE:PSX) during the second quarter, HoldingsChannel reports. The firm acquired 15,360 shares of the oil and gas company’s stock, valued at approximately $2,597,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Key Client Fiduciary Advisors LLC increased its holdings in Phillips 66 by 3.5% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock worth $275,000 after purchasing an additional 55 shares in the last quarter. Threadgill Financial LLC boosted its position in shares of Phillips 66 by 3.5% during the second quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock worth $286,000 after buying an additional 58 shares during the period. Calamos Wealth Management LLC grew its holdings in shares of Phillips 66 by 2.0% during the second 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 grew its holdings in shares of Phillips 66 by 0.3% during the second 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 raised its position in 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 valued at $428,000 after buying an additional 64 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the sale, the executive vice president owned 27,537 shares in the company, valued at $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 61,595 shares in the company, valued at $13,242,925. The trade was a 32.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is currently owned by insiders.

Phillips 66 Stock Down 0.4%

Shares of PSX stock opened at $241.88 on Tuesday. Phillips 66 has a 52-week low of $126.74 and a 52-week high of $246.95. The stock has a market cap of $96.51 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.18 and a beta of 0.68. The firm’s 50-day moving average is $200.25 and its 200-day moving average is $180.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating the consensus estimate of $7.50 by $1.91. The firm had revenue of $52.04 billion for the quarter, compared to the consensus estimate 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 previous year, the company earned $2.38 earnings per share. Sell-side analysts predict that Phillips 66 will post 23.86 EPS for the current year.

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

Phillips 66 Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on PSX. Barclays boosted their target price on Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Piper Sandler lifted their price objective on shares of Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a report on Monday, August 10th. TD Cowen boosted their price objective on shares of Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Argus increased their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $206.56.

Phillips 66 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.