Roberts Glore & Co. Inc. IL Buys Shares of 3,806 Phillips 66 $PSX

Roberts Glore & Co. Inc. IL purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the second quarter, Holdings Channel reports. The fund purchased 3,806 shares of the oil and gas company’s stock, valued at approximately $643,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. NFSG Corp lifted its holdings in shares of Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Axiom Investment Management LLC acquired a new position in shares of Phillips 66 in the first quarter worth approximately $27,000. SWAN Capital LLC boosted its holdings in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares during the last quarter. Compass Financial Management LLC bought a new stake in Phillips 66 in the second quarter valued at approximately $28,000. Finally, Kelleher Financial Advisors acquired a new stake in Phillips 66 during the 2nd quarter valued at approximately $29,000. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PSX. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. Argus boosted their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Piper Sandler upped their target price on Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. raised their target price on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Finally, Guggenheim upgraded Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. One research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.56.

Phillips 66 Price Performance

Shares of PSX opened at $237.00 on Wednesday. Phillips 66 has a 12-month low of $126.74 and a 12-month high of $246.95. The business’s fifty day moving average is $201.55 and its 200 day moving average is $180.94. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The stock has a market cap of $94.57 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.18 and a beta of 0.68.

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, beating analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The business had revenue of $52.04 billion during the quarter, compared to analyst estimates of $43.60 billion. During the same quarter in the previous year, the business posted $2.38 EPS. Sell-side analysts anticipate that Phillips 66 will post 23.86 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Phillips 66 announced that its Board of Directors has approved a stock buyback plan on Friday, July 31st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Phillips 66

In other news, EVP Brian Mandell sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $215.00, for a total value of $6,450,000.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $13,242,925. This represents a 32.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the transaction, the executive vice president directly owned 39,094 shares in the company, valued at approximately $8,747,673.44. The trade was a 57.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 100,507 shares of company stock worth $21,770,810 in the last quarter. 0.40% of the stock is owned by insiders.

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.