Two Sigma Securities LLC Increases Stock Position in Phillips 66 $PSX

Two Sigma Securities LLC increased its holdings in Phillips 66 (NYSE:PSX) by 298.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,059 shares of the oil and gas company’s stock after acquiring an additional 6,035 shares during the quarter. Two Sigma Securities LLC’s holdings in Phillips 66 were worth $1,362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after buying an additional 7,214 shares during the period. Woodline Partners LP increased its position in Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after acquiring an additional 10,089 shares during the period. Sei Investments Co. raised its stake in Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after acquiring an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after acquiring an additional 28,988 shares during the last quarter. Finally, Glenview Trust co lifted its position in Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after acquiring an additional 229 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares of the company’s stock, valued at $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Mandell sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 61,595 shares in the company, valued at $13,242,925. The trade was a 32.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 100,507 shares of company stock valued at $21,770,810 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $246.86 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The business’s fifty day moving average price is $207.69 and its two-hundred day moving average price is $183.39. The stock has a market cap of $98.50 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. Phillips 66 has a one year low of $126.74 and a one year high of $250.66.

Phillips 66 (NYSE:PSX) last released 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. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. During the same period in the previous year, the firm posted $2.38 earnings per share. On average, analysts forecast that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 declared that its Board of Directors has authorized a share repurchase program on Friday, July 31st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Phillips 66 Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PSX shares. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Piper Sandler lifted their price objective on shares of Phillips 66 from $208.00 to $209.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. UBS Group boosted their price objective on shares of Phillips 66 from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Argus boosted their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.