Rhumbline Advisers Raises Stock Position in Phillips 66 $PSX

Rhumbline Advisers raised its stake in Phillips 66 (NYSE:PSX) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796,026 shares of the oil and gas company’s stock after acquiring an additional 6,586 shares during the period. Rhumbline Advisers’ holdings in Phillips 66 were worth $94,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its holdings in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. Pinpoint Asset Management Ltd acquired a new position in shares of Phillips 66 in the 1st quarter valued at $29,000. Webster Bank N. A. raised its position in Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Nova Wealth Management Inc. acquired a new stake in Phillips 66 during the 1st quarter worth $37,000. Finally, GKV Capital Management Co. Inc. boosted its stake in Phillips 66 by 111.5% during the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $133.78 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market capitalization of $53.90 billion, a P/E ratio of 36.55, a PEG ratio of 1.81 and a beta of 1.08. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $143.25. The business has a 50 day moving average price of $134.33 and a 200 day moving average price of $127.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate 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 posted $2.04 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 EPS 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. Shareholders of record on Monday, November 17th will be paid 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 of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Analysts Set New Price Targets

A number of research analysts have commented on PSX shares. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. UBS Group reissued a “buy” rating and set a $160.00 price target on shares of Phillips 66 in a report on Monday, November 10th. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price target for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Jefferies Financial Group upped their price target on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Finally, Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Hold” and an average price target of $145.71.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 64,986 shares of company stock worth $8,955,291 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

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.