Qsemble Capital Management LP Buys Shares of 5,399 Phillips 66 (NYSE:PSX)

Qsemble Capital Management LP bought a new stake in Phillips 66 (NYSE:PSX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,399 shares of the oil and gas company’s stock, valued at approximately $882,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 during the fourth quarter worth $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the first quarter worth $28,000. First United Bank & Trust bought a new stake in shares of Phillips 66 in the fourth quarter worth $31,000. Finally, Ruedi Wealth Management Inc. increased its holdings in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PSX shares. Raymond James cut their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. TD Cowen cut their target price on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Piper Sandler cut their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Barclays cut their target price on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Finally, Scotiabank cut their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.86.

Phillips 66 Stock Down 0.2 %

PSX stock traded down $0.29 during trading on Tuesday, reaching $139.78. 1,570,490 shares of the stock were exchanged, compared to its average volume of 2,714,741. The firm’s 50 day moving average is $140.30 and its 200 day moving average is $145.21. Phillips 66 has a twelve month low of $98.89 and a twelve month high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The firm has a market cap of $59.26 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 2.21 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same period last year, the company posted $4.21 earnings per share. As a group, research analysts forecast that Phillips 66 will post 10.47 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by company 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.