Argyle Capital Management LLC Has $2.49 Million Holdings in Phillips 66 $PSX

Argyle Capital Management LLC boosted its position in Phillips 66 (NYSE:PSX) by 2.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 20,867 shares of the oil and gas company’s stock after acquiring an additional 450 shares during the quarter. Argyle Capital Management LLC’s holdings in Phillips 66 were worth $2,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Horizon Bancorp Inc. IN acquired a new position in Phillips 66 in the 2nd quarter valued at $89,000. Ramirez Asset Management Inc. boosted its holdings in Phillips 66 by 136.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 22,562 shares of the oil and gas company’s stock valued at $2,692,000 after purchasing an additional 13,000 shares during the period. Callan Family Office LLC boosted its holdings in Phillips 66 by 73.1% in the 2nd quarter. Callan Family Office LLC now owns 5,274 shares of the oil and gas company’s stock valued at $629,000 after purchasing an additional 2,228 shares during the period. Blair William & Co. IL boosted its holdings in Phillips 66 by 10.3% in the 2nd quarter. Blair William & Co. IL now owns 201,721 shares of the oil and gas company’s stock valued at $24,065,000 after purchasing an additional 18,900 shares during the period. Finally, Lokken Investment Group LLC lifted its holdings in shares of Phillips 66 by 7.4% during the 2nd quarter. Lokken Investment Group LLC now owns 10,235 shares of the oil and gas company’s stock worth $1,221,000 after acquiring an additional 707 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by insiders.

Phillips 66 Trading Down 0.2%

PSX opened at $131.10 on Friday. 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 stock has a market capitalization of $52.98 billion, a PE ratio of 31.51, a PEG ratio of 1.91 and a beta of 1.11. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The firm has a 50-day moving average price of $129.36 and a two-hundred day moving average price of $120.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the company posted $2.31 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given 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 (DPR) is presently 115.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PSX shares. Compass Point started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “buy” rating for the company. Barclays raised their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a research report on Wednesday, June 18th. TD Cowen increased their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Finally, Evercore ISI increased their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.50.

Phillips 66 Company 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.