Phillips 66 $PSX Shares Acquired by 1248 Management LLC

1248 Management LLC lifted its position in Phillips 66 (NYSE:PSX) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,046 shares of the oil and gas company’s stock after purchasing an additional 536 shares during the period. 1248 Management LLC’s holdings in Phillips 66 were worth $500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Forum Financial Management LP lifted its stake in shares of Phillips 66 by 1.0% in the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock valued at $853,000 after purchasing an additional 77 shares during the period. WealthTrust Axiom LLC lifted its stake in shares of Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after purchasing an additional 81 shares during the period. CWC Advisors LLC. lifted its stake in shares of Phillips 66 by 1.0% in the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company’s stock valued at $1,110,000 after purchasing an additional 92 shares during the period. Hager Investment Management Services LLC lifted its stake in shares of Phillips 66 by 7.2% in the 1st quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company’s stock valued at $178,000 after purchasing an additional 96 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of Phillips 66 by 14.4% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 97 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Phillips 66 stock opened at $132.49 on Friday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $140.60. The firm has a market capitalization of $53.54 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.05 and a beta of 1.15. The company has a fifty day simple moving average of $126.87 and a 200-day simple moving average of $119.55. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Michael A. Heim bought 1,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the acquisition, the director directly owned 12,043 shares of the company’s stock, valued at $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total transaction of $593,055.00. Following the sale, the executive vice president directly owned 38,980 shares of the company’s stock, valued at $5,262,300. The trade was a 10.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 9,850 shares of company stock valued at $1,188,910 and have sold 18,586 shares valued at $2,389,145. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PSX has been the subject of several analyst reports. TD Cowen boosted their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. 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. Compass Point assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a “buy” rating for the company. Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Finally, Citigroup cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.40.

About Phillips 66

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.