Telos Capital Management Inc. Boosts Stake in Phillips 66 $PSX

Telos Capital Management Inc. raised its position in Phillips 66 (NYSE:PSX) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,565 shares of the oil and gas company’s stock after buying an additional 1,150 shares during the period. Telos Capital Management Inc.’s holdings in Phillips 66 were worth $6,390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. raised its holdings in Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares in the last quarter. Chronos Wealth Management LLC bought a new stake in Phillips 66 during the second quarter worth approximately $281,000. Sustainable Insight Capital Management LLC bought a new stake in Phillips 66 during the first quarter worth approximately $1,457,000. Evergreen Wealth Solutions LLC bought a new stake in Phillips 66 during the first quarter worth approximately $292,000. Finally, Concurrent Investment Advisors LLC raised its holdings in Phillips 66 by 45.3% during the first quarter. Concurrent Investment Advisors LLC now owns 30,055 shares of the oil and gas company’s stock worth $3,711,000 after purchasing an additional 9,376 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 0.6%

NYSE PSX opened at $136.23 on Monday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market cap of $54.89 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 1.81 and a beta of 1.11. The firm’s 50 day moving average price is $132.67 and its two-hundred day moving average price is $123.64.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period in the previous year, the company posted $2.04 EPS. Equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is presently 131.15%.

Insider Activity at Phillips 66

In other news, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction on 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 transaction, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 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 transaction, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PSX shares. TD Cowen boosted their target price on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday. Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup cut Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.94.

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.