Phillips 66 $PSX Shares Acquired by Creekmur Asset Management LLC

Creekmur Asset Management LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 100.6% during the second quarter, Holdings Channel reports. The firm owned 7,569 shares of the oil and gas company’s stock after acquiring an additional 3,796 shares during the quarter. Creekmur Asset Management LLC’s holdings in Phillips 66 were worth $903,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Elliott Investment Management L.P. increased its position 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 during the period. Chronos Wealth Management LLC acquired a new position in Phillips 66 in the 2nd quarter valued at about $281,000. Sustainable Insight Capital Management LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $1,457,000. Evergreen Wealth Solutions LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $292,000. Finally, Concurrent Investment Advisors LLC increased its position in Phillips 66 by 45.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 30,055 shares of the oil and gas company’s stock valued at $3,711,000 after acquiring an additional 9,376 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Scotiabank restated a “sector perform” rating and issued a $133.00 price target on shares of Phillips 66 in a research report on Friday, July 11th. Piper Sandler lifted their price objective on Phillips 66 from $155.00 to $159.00 and gave the company a “neutral” rating in a report on Thursday. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Finally, Argus raised Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.94.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $137.17 on Friday. The business’s 50 day simple moving average is $132.54 and its 200-day simple moving average is $123.00. The firm has a market capitalization of $55.43 billion, a price-to-earnings ratio of 37.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping 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 previous year, the company earned $2.04 EPS. As a group, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. Phillips 66’s payout ratio is 115.38%.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of the firm’s 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 purchase, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.22% of the stock is owned by insiders.

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.