Country Club Bank Acquires 95 Shares of Phillips 66 $PSX

Country Club Bank lifted its holdings in Phillips 66 (NYSE:PSX) by 1.3% in the second quarter, HoldingsChannel.com reports. The fund owned 7,362 shares of the oil and gas company’s stock after buying an additional 95 shares during the quarter. Country Club Bank’s holdings in Phillips 66 were worth $878,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PSX. Wolff Wiese Magana LLC boosted its stake in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Phillips 66 during the first quarter valued at approximately $27,000. Olde Wealth Management LLC bought a new position in Phillips 66 during the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC bought a new position in Phillips 66 during the first quarter valued at approximately $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Phillips 66 during the first quarter valued at approximately $29,000. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of a number of research reports. Evercore ISI increased their price target on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Scotiabank restated a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Morgan Stanley upped their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday. Argus upgraded Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Piper Sandler upped their price objective on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.50.

Insiders Place Their Bets

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sigmund L. Cornelius acquired 500 shares of Phillips 66 stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 9,850 shares of company stock valued at $1,188,910. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.4%

Shares of NYSE PSX opened at $132.34 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The business’s 50 day moving average price is $129.07 and its 200-day moving average price is $120.51. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35. The company has a market cap of $53.48 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 1.91 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the business posted $2.31 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio is presently 115.38%.

Phillips 66 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.