Mariner LLC Buys 38,893 Shares of Phillips 66 $PSX

Mariner LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,081,027 shares of the oil and gas company’s stock after buying an additional 38,893 shares during the period. Mariner LLC’s holdings in Phillips 66 were worth $147,058,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. L2 Asset Management LLC grew its holdings in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after acquiring an additional 72 shares during the period. Mesirow Financial Investment Management Inc. raised its position in shares of Phillips 66 by 0.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after acquiring an additional 73 shares in the last quarter. KCM Investment Advisors LLC lifted its stake in shares of Phillips 66 by 1.6% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 74 shares during the period. Heck Capital Advisors LLC boosted its position in shares of Phillips 66 by 1.2% during the third quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after purchasing an additional 75 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its position in shares of Phillips 66 by 3.8% during the third quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 75 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 16,856 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,380,590.72. The trade was a 14.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 84,688 shares of company stock valued at $14,066,145 in the last 90 days. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

PSX has been the subject of a number of research reports. Raymond James Financial increased their price objective on Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Argus boosted their price objective on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Piper Sandler upped their target price on shares of Phillips 66 from $153.00 to $156.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.33.

Phillips 66 Stock Performance

Shares of PSX opened at $173.56 on Tuesday. The firm has a market capitalization of $69.55 billion, a P/E ratio of 16.04, a PEG ratio of 0.60 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. Phillips 66 has a one year low of $91.01 and a one year high of $178.38. The business has a fifty day moving average of $152.11 and a 200 day moving average of $140.46.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter in the prior year, the company earned ($0.15) earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were paid a $1.27 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date was Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Phillips 66 Company 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.