Ruggaard & Associates LLC Takes Position in Phillips 66 $PSX

Ruggaard & Associates LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the 2nd quarter, HoldingsChannel reports. The fund purchased 2,254 shares of the oil and gas company’s stock, valued at approximately $381,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Equitable Holdings Inc. acquired a new stake in Phillips 66 during the 2nd quarter valued at $3,546,000. Centaurus Financial Inc. acquired a new position in Phillips 66 during the second quarter valued at $290,000. Pacific Heights Asset Management LLC purchased a new stake in Phillips 66 in the 2nd quarter worth about $16,905,000. Coastal Bridge Advisors LLC purchased a new stake in Phillips 66 in the 2nd quarter worth about $1,245,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Phillips 66 during the 2nd quarter worth about $696,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the completion of the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at $13,242,925. The trade was a 32.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,507 shares of company stock worth $21,770,810 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Phillips 66 Trading Down 0.7%

Shares of NYSE:PSX opened at $240.58 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $96.00 billion, a PE ratio of 13.71, a P/E/G ratio of 0.18 and a beta of 0.68. Phillips 66 has a 1 year low of $126.74 and a 1 year high of $246.95. The firm has a fifty day moving average price of $204.55 and a 200 day moving average price of $182.15.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter in the previous year, the firm earned $2.38 earnings per share. Analysts expect that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 announced that its board has authorized a stock repurchase plan on Friday, July 31st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Phillips 66 Announces Dividend

The business 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 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is 28.95%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research analyst reports. Guggenheim raised Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Citigroup reiterated a “neutral” rating on shares of Phillips 66 in a report on Thursday, August 6th. One 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

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.