Philadelphia Investment Partners LLC Takes Position in Phillips 66 $PSX

Philadelphia Investment Partners LLC bought a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,299 shares of the oil and gas company’s stock, valued at approximately $535,000.

Several other large investors also recently bought and sold shares of PSX. Pinnacle Family Advisors LLC purchased a new stake in Phillips 66 during the 2nd quarter worth about $305,000. Ausdal Financial Partners Inc. purchased a new position in shares of Phillips 66 in the 2nd quarter valued at about $1,373,000. Bank of America Corp DE acquired a new position in shares of Phillips 66 during the second quarter worth about $469,970,000. Birmingham Capital Management Co. Inc. AL acquired a new position in shares of Phillips 66 during the second quarter worth about $266,000. Finally, Port Capital LLC purchased a new stake in shares of Phillips 66 during the second quarter worth approximately $356,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group boosted their target price on shares of Phillips 66 from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Raymond James Financial raised their price target on Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. TD Cowen lifted their price target on Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Finally, BMO Capital Markets increased their price objective on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.56.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the sale, the executive vice president directly owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 100,507 shares of company stock worth $21,770,810 over the last three months. 0.40% of the stock is currently owned by company insiders.

Phillips 66 Trading Up 2.3%

Shares of Phillips 66 stock opened at $242.27 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $203.06 and a 200-day simple moving average of $181.56. The stock has a market cap of $96.67 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.18 and a beta of 0.68. Phillips 66 has a 12-month low of $126.74 and a 12-month high of $246.95.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The firm had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. During the same period last year, the business earned $2.38 EPS. On average, equities analysts forecast that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. Phillips 66’s payout ratio is 28.95%.

Phillips 66 declared that its Board of Directors has initiated a share repurchase program on Friday, July 31st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.