Prime Capital Investment Advisors LLC Has $2.32 Million Stake in Phillips 66 $PSX

Prime Capital Investment Advisors LLC decreased its stake in shares of Phillips 66 (NYSE:PSX) by 22.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 19,406 shares of the oil and gas company’s stock after selling 5,551 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Phillips 66 were worth $2,315,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PSX. Elliott Investment Management L.P. increased its holdings in shares of Phillips 66 by 1,929.0% during 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 last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Phillips 66 by 9,530.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after acquiring an additional 1,431,450 shares during the last quarter. Nuveen LLC acquired a new position in shares of Phillips 66 during the 1st quarter valued at about $156,482,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after acquiring an additional 682,459 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after acquiring an additional 653,248 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $132.34 on Wednesday. The stock has a 50 day moving average of $129.07 and a two-hundred day moving average of $120.51. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The company has a market capitalization of $53.48 billion, a P/E ratio of 31.81, a P/E/G ratio of 1.91 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter last year, the company earned $2.31 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research analyst reports. Piper Sandler raised their target price on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Wells Fargo & Company lowered their target price on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. Argus raised Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a report on Wednesday, June 18th. Finally, UBS Group raised their target price on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.50.

Insider Buying and Selling

In related news, Director Sigmund L. Cornelius purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the purchase, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael A. Heim purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director owned 12,043 shares in the company, valued at $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 9,850 shares of company stock worth $1,188,910 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

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.