Donoghue Forlines LLC Has $1.45 Million Stake in Phillips 66 $PSX

Donoghue Forlines LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 3.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 12,179 shares of the oil and gas company’s stock after buying an additional 443 shares during the period. Donoghue Forlines LLC’s holdings in Phillips 66 were worth $1,453,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Elliott Investment Management L.P. raised its holdings in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after purchasing an additional 1,532,967 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after purchasing an additional 537,245 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares during the period. Finally, Invesco Ltd. boosted its stake in Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after buying an additional 653,248 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This represents a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 38,786 shares of company stock valued at $5,348,075. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Up 1.1%

NYSE:PSX opened at $139.53 on Friday. The company has a market cap of $56.22 billion, a price-to-earnings ratio of 38.12, a P/E/G ratio of 1.81 and a beta of 1.08. 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 stock’s fifty day moving average price is $133.75 and its two-hundred day moving average price is $125.65. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.93.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same quarter in the prior year, the firm posted $2.04 earnings per share. On average, analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PSX shares. TD Cowen increased their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. UBS Group reissued a “buy” rating and issued a $160.00 price target on shares of Phillips 66 in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Piper Sandler increased their target price on Phillips 66 from $155.00 to $159.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $143.56.

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.